India and Argentina have decided to strengthen cooperation in several important sectors, including critical minerals, defence production, space, pharmaceuticals, shale gas, digital health, telemedicine, IT, and digital payments. This agreement came after extensive talks between Prime Minister Narendra Modi and Argentine President Javier Milei in Buenos Aires on Saturday night.
Modi’s Historic Visit to Argentina
This was the first bilateral visit by an Indian Prime Minister to Argentina in 57 years. Modi had previously visited the country in 2018 for the G20 Summit, but this time, he arrived on an official bilateral mission.
He landed earlier in the day at Ezeiza International Airport, where he received a ceremonial welcome. Later, he paid tribute to General Jose de San Martin, Argentina’s national hero, before joining delegation-level talks. President Milei also hosted a formal lunch in Modi’s honour.
New Areas of Collaboration Identified
Officials confirmed that both nations agreed to set up a joint working group on agriculture. They also decided to explore cooperation in defence manufacturing and the use of drones.
India proposed to assist Argentina in maintaining its military helicopters and even suggested multiple military platforms for collaboration. These steps mark a deeper defence engagement between the two sides.
Focus on Trade and Market Access
In terms of trade, Prime Minister Modi asked for Argentina’s backing to expand the India-MERCOSUR trade agreement. MERCOSUR is a trade bloc that includes Argentina, Brazil, Paraguay, and Uruguay.
India is also seeking greater access for its pharmaceutical exports. Modi urged Argentina to shift Indian drugs from Annex II to Annex I in their regulatory system, which would simplify the process of exporting medicines. In response, Argentine officials shared details about their fast-track approval system for Indian pharmaceuticals.
Digital Payments and UPI Draw Interest
Digital cooperation was another important part of the discussions. Modi shared the success story of India’s UPI (Unified Payments Interface), and President Milei showed strong interest in adopting UPI.
He believes that UPI could help Argentina’s central bank manage monetary policy more efficiently, showing how digital technology could serve as a tool for economic stability.
Lithium and Critical Minerals Partnership
Both leaders reviewed the progress made under an MoU on critical minerals, especially lithium, which is crucial for India’s clean energy future.
India and Argentina had signed the MoU in August 2022, and the first joint working group meeting was held in January this year. These discussions aim to build a steady partnership in this vital sector.
Growing Trade Relationship
India and Argentina raised their ties to a Strategic Partnership in 2019, during the visit of then-Argentine President Mauricio Macri to India.
Trade between the two countries has been steadily growing. From 2019 to 2022, the trade value more than doubled, reaching $6.4 billion. In 2024, the total trade amounted to $5.23 billion, making India Argentina’s fifth-largest trading partner.
Modi Receives Honor from Buenos Aires
After the talks, Buenos Aires Mayor Jorge Macri honoured Prime Minister Modi with the Key to the City, a symbolic gesture of respect and friendship.
Modi Reflects on Strengthening Ties
Prime Minister Modi shared a post on X, saying, “Excellent meeting with President Javier Milei of Argentina. We are marking 75 years of India-Argentina diplomatic relations and 5 years since we elevated our relationship to a Strategic Partnership. We have covered significant ground, but we agree the journey ahead is even more promising!”
Excelente reunión con el Presidente Javier Milei de Argentina. Se cumplen 75 años de relaciones diplomáticas entre la India y Argentina y 5 años desde que elevamos nuestra relación a Asociación Estratégica. Hemos avanzado considerablemente en nuestras relaciones bilaterales, pero… pic.twitter.com/KA76k0lUra
— Narendra Modi (@narendramodi) July 5, 2025