India, Argentina To Triple Trade
20 February 2008 A junior Indian Minister said the country hopes to triple bilateral trade with Argentina in the next four years to more than US $3 billion, reports global news service Agence France-Presse (AFP).
“We have set a target of $3 billion by 2010. We hope that we will be able to achieve it … but we want more, we want to increase by three times in the next four years,” said minister of state for external affairs Anand Sharma.
Sharma told AFP that India is most interested in biotechnologies and investments in Argentina.
The balance of trade currently favors Argentina, which exports $800 million of products (80% of which is soybean oil) to India, Sharma said. Indian exports to Argentina total about $300 million. India also has around $800 million invested in Argentina’s steel, software, and pharmaceutical and agrochemical industries.
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