This year, India and Argentina celebrate the 75th anniversary of their bilateral relations. We also celebrate the 5th anniversary of our strategic relationship, which has been very fruitful and reflected in the number of visits Argentinians have paid to India in the last few years and how we have deepened our relationship. We have witnessed, also, India’s great achievements. Having become the world’s fifth largest economy, India stands as the fastest growing democracy in Asia and probably in the world.
With a total trade volume reaching 4.6 billion US dollars, Argentina has solidified its position as the leading supplier of soybean oil to the Indian market, and the third-largest provider of sunflower oil, significantly contributing to the food security of the Indian consumer. Furthermore, 2023 marked a significant milestone for Indian mining companies. The province of Catamarca is now hosting Indian firms that are not only exploring lithium but also showing interest in copper and gold.
These investments are particularly important as India advances its electric vehicle (EV) development, aiming to secure a resilient and diversified supply chain for critical minerals, essential for various industries in India. Our bilateral relations extend beyond the political and commercial spheres. The commitment of our private sectors is evident, with examples such as the Argentine IT company Globant, based in Pune, and the UPL Group, with facilities in Argentina. These collaborations reflect the deep and multifaceted nature of our partnership.
Argentina and India had also worked together in the strategic field of Nuclear Cooperation. Argentine company INVAP successfully concluded the set-up of the radioisotope production facility in Mumbai, India.