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CII Media Releases
President of Argentina invites Indian Industry to Invest in Argentina
Feb 18, 2019

HE Mr Mauricio Macri, Hon’ble President of the Republic of Argentina invited Indian Industry to invest in Argentina and highlighted the untapped potential present in both the countries. The President was addressing the India - Argentina Business Forum which was organized by the Confederation of Indian Industry (CII) in cooperation with the Federation of Indian Chambers of Commerce and Industry (FICCI), The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Ministry of External Affairs, Government of India.

The President stated that the two countries share many complementarities and are both extremely rich in natural resources. He stated that Argentina was undertaking a series of reforms which would make doing business easier. These included developing institutions and creating infrastructure.

According to the President, Argentina sees several areas for cooperation in the bilateral strategic partnership. These include in energy, mining and trade, agribusiness and food security, spatial and nuclear cooperation, tourism, and cooperation in the ICT sector, public media and broadcasting.

In his address, Mr Suresh Prabhu, Hon’ble Minister of Commerce & Industry and Civil Aviation, Government of India highlighted the need for a stronger bilateral economic relationship between the two countries. According to the Minister, some sectors which he felt had great potential for companies from both sides included IT and ITeS, Renewable energy, Pharmaceuticals, Nuclear energy, Space research and Mining. He also mentioned about the 12 Champion service sectors of growth were both the countries can collaborate.

Mr Arvind Varchaswi, Co-Chair, FICCI Ayush Committee & MD, highlighted urgent need to significantly increase the number of tariff lines in the existing India-MERCOSUR PTA so that the agreement could cover a sizeable proportion of bilateral trade.

Mr Vineet Agarwal, Vice President, ASSOCHAM highlighted the need to step up people to people ties between the two countries. He also invited Argentinian companies to take advantage of the changed business environment in India and invest in the country.

Mr Shishir Joshipura, CEO & MD, Praj Industries Ltd. and Member, CII Latin America Committee called for the need to expand at commercial and diplomatic level between the two countries.

New Delhi

18 February 2019

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