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First Post
10-07-2025
- Business
- First Post
Lion on the Pampas: India and Argentina forge a strategic bond
PM Modi's visit to Buenos Aires positions India and Argentina as natural partners in a shifting global landscape read more Prime Minister Narendra Modi and Argentinian President Javier Milei hold talks in Buenos Aires; India and Argentina to strengthen ties through trade diversification. Image: X In Buenos Aires, a hand-etched silver lion on a fuchsite stone gifted by Prime Minister Narendra Modi to President Javier Milei symbolises the rare and resolute convergence of two distant powers. Set against the vibrant backdrop of the Argentine capital, PM Modi and President Milei held substantive discussions to deepen ties across trade, defence, energy, and technology. Bilateral trade, which reached $5.23 billion in 2024, reflects a robust upward trajectory, more than doubling from 2019 and peaking at $6.4 billion in 2022. STORY CONTINUES BELOW THIS AD India, now Argentina's fifth-largest trading partner, enjoys a trade surplus, exporting $3.8 billion in goods—primarily pharmaceuticals, chemicals, and machinery—while importing $1.43 billion, largely agricultural products like soybean oil. This imbalance is seen not as a concern but as an impetus for diversification. Both nations agreed to explore a joint working group on agriculture and to expand the India-Mercosur Preferential Trade Agreement, aiming to balance market access for Indian fruits, vegetables, and dairy with Argentine farm exports. At the core of this growing partnership lies a shared interest in critical minerals, particularly lithium. Argentina's vast reserves in the Lithium Triangle—alongside Bolivia and Chile—align with India's pressing demand for clean energy inputs. Lithium, essential for EV batteries and renewable energy storage, is vital to India's green transition. Indian firms like Khanij Bidesh India Ltd (KABIL) secured concessions in Argentina's Catamarca province in 2024, with a landmark agreement signed in January for the exploration of five lithium blocks. Pharma is another pillar of cooperation, showcasing India's soft power and economic strength. Indian generic drugs, known for affordability and quality, are increasingly sought in Argentina. PM Modi urged Argentina to reclassify India from Annexe II to Annexe I in its pharma regulatory framework—a step that would speed up approvals for Indian medicines. Defence collaboration, still in its early stages, is gaining traction. India's 'Make in India' initiative to bolster domestic defence manufacturing found a receptive audience in Argentina. The Indian delegation pitched the Tejas light combat aircraft as a potential fit for Argentina's air force, which seeks replacements for its retired Mirage jets. In 2023, agreements were signed between Hindustan Aeronautics Limited (HAL) and the Argentine Air Force for helicopter spares and maintenance. STORY CONTINUES BELOW THIS AD The strategic undertones of PM Modi's visit extend beyond bilateral benefits. Argentina's economic reforms under President Milei, reminiscent of India's own liberalisation in the 1990s, create fertile ground for collaboration. Talks also touched on digital innovation, with PM Modi showcasing India's UPI as a model for financial inclusion—an idea gaining traction in Argentina. This visit, a milestone in a 75-year relationship, positions India and Argentina as natural partners in a shifting global order. Like the silver lion etched on fuchsite, their partnership—forged in mutual ambition and tempered by pragmatism—gleams with promise, ready to roar across the Pampas. The writer is a senior journalist with expertise in defence. Views expressed are personal and do not necessarily reflect those of Firstpost.
Arabian Post
02-07-2025
- Business
- Arabian Post
India advances battery‑metal security with Zambia mission
A specialised Indian geological team has been dispatched to Zambia to commence a three‑year survey of copper and cobalt within a 9,000 km² exploration zone. The initiative, authorised by the Zambian government earlier this year, aligns with New Delhi's broader drive to shore up supplies of strategic minerals essential for its energy‑transition and technological ambitions. Zambia, a major exporter of copper—Africa's second‑largest producer after the Democratic Republic of Congo—and a significant cobalt reserve, represents a strategic asset in India's efforts to diversify away from dependence on imports. The geological team will visit the site periodically to conduct field surveys, while most sample analysis will be carried out in Indian laboratories. Khanij Bidesh India Ltd, a joint venture of state‑run firms under the Ministry of Mines, is coordinating the operation. From groundwork through to feasibility analysis, the mission is designed to assess the mineral potential and commercial viability of the designated area. On successful evaluation, the government plans to initiate mining lease negotiations with Zambia, with possible invitations to private mining companies to join the project. ADVERTISEMENT Part of a broader strategic push, this mission extends New Delhi's resource diplomacy to several regions. India is already in discussions with the Democratic Republic of Congo over cobalt and copper, and exploring similar agreements with nations in Australia and Latin America. The drive carries urgency, driven by global copper shortages and a sharp rise in India's import volumes—1.2 million tonnes in the fiscal year to March 2025, up 4 per cent—and a 20 per cent increase in cobalt‑oxide imports to 693 tonnes. Economists and industry analysts describe India's move as a calculated bid to reduce vulnerability to volatile mineral markets. Closure of the Sterlite Copper smelter in 2018 heightened India's reliance on external suppliers and added urgency to securing alternative sources. Copper underpins infrastructure, electronics and clean‑energy generation, while cobalt is indispensable to electric‑vehicle batteries and mobile electronics. Zambian officials have signalled intent to revive their mining sector, opening doors to foreign investors against a backdrop of policy uncertainty and infrastructure deficits. The 9,000 km² zone dedicated to India is reportedly one of the largest allocations of mineral exploration land in recent years. This offer comes at a time when Zambia is courting new investment to drive economic recovery through mining exports. Industry experts note that while Zambia dominates regional copper output, cobalt reserves have been less explored. Opportunity exists for India to build a vertically integrated supply chain, encompassing raw‑material extraction, downstream processing and technology deployment for the battery and clean‑energy sectors. Government‑to‑government mining partnerships like this underscore India's evolving strategy of direct resource engagement. KABIL's existing MoUs across Africa and Latin America support this, enabling access to mineral assets via diplomatic and trade frameworks. They view it as a hedge against market risk and supply‑chain tightening in critical minerals. From a policy standpoint, securing access to copper and cobalt supports India's vanishing import dependency strategy. It aligns with its ambitions in electric‑vehicle manufacturing, green‑energy infrastructure and data‑centre expansion. Copper's role in power grids and electronics places it at the heart of these ambitions, while cobalt's limited global supply renders it increasingly valuable. Multiple visits by the geological team over the coming years aim to refine resource estimates, metallurgical benchmarks and environmental considerations. Laboratory results in India will shape next steps, including leasing decisions and private partnership structures. Observers believe that this model, blending government oversight with private participation, could set a standard for state‑to‑state resource deals.
Reuters
29-01-2025
- Business
- Reuters
India seeking energy, lithium investments in Argentina
BUENOS AIRES, Jan 29 (Reuters) - India is looking to expand its investments in Argentina's mining, gas and oil sectors, with a focus on lithium, to secure resources needed for its energy transition, the country's mining secretary told Reuters. Secretary V.L. Kantha Rao visited Buenos Aires for the first in-person meeting with Argentine counterparts since the two countries tied up a preliminary agreement in 2022 on mineral exploration, critical minerals supply and technology development. Indian state firms Khanij Bidesh India Ltd (KABIL) and Coal India ( opens new tab, along with private company Greenko, are already exploring lithium in Argentina's northwest province of Catamarca, on the border with Chile. "We hope that in the next six months there will be a new announcement," Rao told Reuters at an event at the Indian embassy in Argentina on Tuesday, where he added that there is interest in other nearby provinces such as Salta. India, a major greenhouse gas emitter, is securing key minerals in resource-rich nations like Australia, Argentina, and Chile. Prime Minister Narendra Modi's government has identified 30 critical minerals, including lithium, for its clean energy push. "India has a very ambitious plan to transition many vehicles to electric. We aim to convert 30% of our vehicles by 2030," India's ambassador to Argentina, Dinesh Bhatia, told Reuters. Indian officials, who will visit Catamarca and meet Argentine Economy Minister Luis Caputo, touted potential benefits from the Latin American nation's so-called Large Investment Incentive Regime (RIGI), which offers tax benefits for investments over $200 million. "We want a stable (framework), not one that changes every five years," Rao told reporters. "Right now, policies are investment-friendly, and companies are coming." Argentina, the world's fourth-largest lithium exporter, is part of the "lithium triangle" with Chile and Bolivia. President Javier Milei is pushing deregulation to attract investment and ease a prolonged economic crisis. India is also eyeing investments in Argentina's copper, gold, gas and oil resources. Last week, Argentina's state-controlled oil firm YPF ( opens new tab signed a memorandum of understanding with three Indian companies for potential liquefied natural gas (LNG) exports.
