On September 15th, 2024, Costa Rica celebrated 203 years of independence, a milestone that is accompanied by the celebration of 54 years of diplomatic relations between India and Costa Rica. Since 1970, when diplomatic ties were established, the two countries have collaborated closely in areas of mutual interest that have deepened our bonds of friendship. India and Costa Rica have in common being coastal countries, rich in biodiversity and with a talented and culturally diverse population. Both also share vulnerabilities to climate change and rising ocean levels. In addition to their strengthened bilateral agenda, India and Costa Rica have recognized the potential of working together at the multilateral level to address key challenges of our time, including the promotion and defence of democracy and human rights and the pursuit of a greener, more inclusive and resilient future.
Current trade between the two countries stands at USD 301 million (2023-24), with significant potential for further expansion. Sectors such as textiles, agriculture, renewable energy, biotechnology and information technology are promising areas for bilateral trade and investment.
In addition, Indian investment in Costa Rica has been significant, particularly in sectors such as finance, insurance, real estate and business services. Leading Indian IT companies such as Infosys, Wipro, WNS, L&T Infotec and CSS Corp have established a presence in San Jose, while other segments are witnessing growing cooperation.
These trends reflect a mutual commitment to further deepen the bilateral relationship between India and Costa Rica. As India increases its focus on Latin America, Costa Rica presents itself not only as a stable and reliable partner, but also as a strategic gateway to Central America and, more broadly, Latin America and the Caribbean.