d - Mahratta Chamber Of Commerce Industries & Agriculture Pune

They are attracted by the new region. Large mining and energy advanced technologies and best
paradigm of high growth and the investment plans of Brazil, Peru and practices.
emerging economic profile of India. Colombia offer new opportunities for
They see the growing population and Indian companies. Indian companies including NRI
consumption of India as a new companies have invested 12 billion
opportunity for their exports. They have Latin America contributes to dollars in the region in pharmaceuticals,
started taking India seriously as a large, India´s food and energy security, with energy, agrochemicals, IT, steel, mining,
growing and long term market and a its supply of edible oil and crude agribusiness and other areas. There is
global economic power. petroleum. It is also an important source more scope for investment.
of supply of minerals to India.
Latin Americans are fascinated by IT companies of India have
the Indian acquisition of western crown Brazil is the leading trading established software development
jewels such as Jaguar and Ritz Carlton. partner of India, followed by Mexico, centres, BPOs and KPOs, employing
They are impressed by the twelve billion Argentina, Chile and Colombia. 18,000 Latin Americans in ten countries.
dollar Indian investment in Latin
America, which contribute to their India´s trade with Latin America India´s exports to Latin America
employment, exports and industry. The increased to 23 billion dollars in 2010
governments on the continent are from 2.6 billion in 2001. This is poised to C h e m i c a l s , b u l k d r u g s ,
happy that Indian IT companies employ grow exponentially, given the p h a r m a c e u t i c a l s , d i e s e l o i l ,
18,000 Latin American youth and train favourable mindset of Latin Americans automobiles, tractors, auto parts, two
and prepare them for the new towards India. and three wheelers, equipments and
information society. Most of the Indian machinery, medical and scientific
operations are headed by Latin India´s exports to the region have instruments, hand tools, machine tools,
American country managers. This is increased from 1.5 billion dollars in optic fibers, blank CDs and DVDs, tyres,
seen as more than employment. It is a 2001 to 9 billion in 2010. Still it is a small electrical items, leather products, plastic
contribution to human resource portion of Latin America´s total imports products, sports items, spices,
development of Latin America. which were 793 billion dollars in 2010. ayurvedic and herbal products, textiles,
The target should be 25 billion dollars by handicrafts and incense sticks.
Therefore it is an opportune time to 2015. Chemicals including bulk drugs form the
step up promotion of exports to and largest part of India´s exports.
investment in Latin America. Indian T h e P r e f e r e n t i a l T r a d e
companies should formulate long term Agreements with Mercosur and Chile The main export to Brazil is diesel
strategies based on the future potential have given a boost to trade. Mercosur oil by Reliance. In 2010 the value of oil
of the region and not on its past history. is becoming a global powerhouse in exported was 1.7 billion dollars,
agriculture with its large production and accounting for 40 percent of India´s total
Already, Indian industry has surplus for exports, vast fertile land exports to the country.
sensed the huge prospects of the area, abundant water resources,
India's trade with the major markets of Latin America (figures in million dollars) below:
Country India’s Imports India’s Exports
2005 2006 2007 2008 2009 2010 2005 2006 2007 2008 2009 2010
Brazil 1137 937 958 1102 3415 3492 1203 1470 2200 3564 2191 4242
Mexico 522 671 868 1587 1085 1000 957 1125 1127 1363 1140 1600
Argentina 739 929 859 836 876 2032 261 303 384 492 342 496
Chile 493 1489 2211 1744 908 1600 134 164 208 478 278 350
Colombia 5 64 80 16 449 370 248 346 476 529 504 700
Peru 79 102 210 281 72 230 122 146 252 504 304 470
Venezuela 35 850 489 3700 2260 5000 98 131 95 195 213 400
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