Shri Piyush Goyal highlights untapped trade potential with LAC, aiming to double trade volumes over the next five years.

India is seeking to deepen economic ties with Latin America and the Caribbean (LAC), aiming to double trade volumes in the next five years. Speaking at the 10th CII India-LAC Conclave in New Delhi, Commerce and Industry Minister Shri Piyush Goyal highlighted key areas for cooperation, including engineering, healthcare, renewable energy, agriculture, and digital services.

Goyal emphasised the importance of leveraging LAC’s lithium reserves for electric mobility and boosting India-Brazil biofuel collaboration. Enhancing trade infrastructure through better shipping routes, direct air connectivity, and streamlined customs processes was also discussed.

He called for expanding partnerships in high-end manufacturing and artificial intelligence while strengthening agriculture through climate-resilient practices and value-added food processing.

Despite global economic challenges, India remains committed to building a transformative partnership with LAC, focusing on shared prosperity, innovation, and sustainable growth. The conclave serves as a platform to advance these collaborations, fostering long-term economic growth.

Source: PIB