India seeks to enhance trade ties with Latin America: Jaishankar tells business forum in Colombia

India seeks to bolster its trade with Latin America which is approaching $50 billion, External Affairs Minister S. Jaishankar has said, as he highlighted that the Indian companies are investing significantly in the region in sectors such as energy, mining, agriculture and automobiles.

India seeks to bolster its trade with Latin America which is approaching $50 billion, External Affairs Minister S. Jaishankar has said, as he highlighted that the Indian companies are investing significantly in the region in sectors such as energy, mining, agriculture and automobiles.

Addressing the India-Colombia Business Forum in Colombia's capital Bogota on April 27, he said his four-nation trip to Latin America was aimed at exploring ways to upgrade India's level of cooperation with the region.

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"Our purpose in being here today is to highlight the growing presence of India in Latin America. Trade volumes between us are approaching the $50 billion level annually. Our companies are investing significantly in the region, from energy and mining to agriculture and auto sector," he said.

Indian companies are executing projects in Latin America, including in infrastructure, power transmission and mining, he said, adding that they are also delivering products in the shipping and aviation domain.

"Even where trade is concerned, while we naturally seek to expand its volumes, the decision before us is when, where and how much to invest. The pharmaceutical sector is particularly seized of this challenge.