India and Argentina have recently deepened their scientific and economic partnership in the fields of Biotechnology and Agriculture. This collaboration aims to foster progress and innovation by leveraging the expertise and resources of both countries.
During a meeting between Dr. Jitendra Singh, Union Minister of State (Independent Charge) Science & Technology, and the Governor of Santa Fe province of Argentina, Omar Angel Perotti, a bilateral exchange of young researchers and startups was agreed upon. The focus of this exchange will be on Biotechnology and Agriculture, reflecting the shared interests of the two nations.
In addition to the exchange program, comprehensive talks involving academia, research institutes, and industries in the fields of Science & Technology and Biotechnology will be held. These discussions aim to further enhance collaboration and drive advancements in these crucial sectors.
This recent partnership builds upon the Inter-governmental Agreement between India and Argentina, established in 1985, which aims to promote technical and scientific cooperation. The agreement enables exchanges between Indian and Argentine research groups and strengthens the relationship between their scientific communities.
India’s interest in collaborating with Argentina extends to areas such as Geospatial technology, Quantum Computation, and Bio-Enzymes. The presence of India’s thriving Startup ecosystem creates significant potential for joint studies and collaborations at various levels.
Trade between India and Argentina has been flourishing, with bilateral trade reaching a historic peak of USD 6.4 billion in 2022. The major items of India’s exports to Argentina include petroleum oils, agrochemicals, and organic chemicals. Conversely, India’s imports from Argentina primarily consist of vegetable oils and cereals.
In terms of investment, several Indian companies have invested over USD 1 billion in Argentina, while Argentina’s investment in India amounts to approximately USD 120 million. Areas such as IT services, manufacturing, and sectors like oil and energy, defense, and aeronautics have witnessed significant cooperation and bilateral agreements.
To further strengthen business ties, the India-Argentina Business Council (IABC) was launched in 2020. This council comprises leading investors, exporters, and importers in Argentina, and it aims to enhance collaboration and facilitate economic growth between the two nations.
Beyond trade and business, there is a substantial Indian diaspora residing in Argentina, with approximately 2,600 NRIs/PIOs (Non-Resident Indians/Persons of Indian Origin). These individuals play an important role in fostering cultural exchange and professional collaboration.
In conclusion, India and Argentina’s deepening scientific and economic partnership in the fields of Biotechnology and Agriculture holds significant potential for progress and innovation. The bilateral exchange of young researchers and startups, coupled with comprehensive talks involving academia and industries, will drive advancements in these crucial sectors. With flourishing trade relations and substantial investments, India and Argentina are actively engaged in fostering economic ties. The India-Argentina Business Council further strengthens collaboration, while the presence of the Indian diaspora in Argentina fosters cultural exchange and professional cooperation.
