The tyranny of geographical distance that limited India-LAC bilateral trade and investment flows over the years is being reigned in as businesses on both sides show greater intent to enter into collaborative arrangements for diverse reasons like infrastructure development, market access, transfer of technology, outsourcing, capacity building and skills development. This is writ large in the bilateral trade and investment patterns. As a case in point, India-LAC bilateral trade flows have increased four-fold in the last five years, from $4.2 billion in 2004-05 to $16.1 billion in 2008-09. But, this is apparently the tip of the iceberg.
The 4th India-Latin America and Caribbean Conclave, organised by CII in partnership with the Ministry of Commerce and Industry, Ministry of External Affairs, and EXIM bank of India in New Delhi during 29-30 April 2010, turned the spotlight on the key issues that underlie the bilateral business engagements.