India is partner for the future, says Argentine President; seeks Indian investments to boost economic cooperation

Feb 19, 2019

 

MUMBAI, 19 February 2019. The President of Argentina, Mr.  Mauricio Macri, said here today that Argentina was looking at India as a "partner for the future" and  seeking to strengthen trade ties with India based on the principle of complementarity.

 

Adressing a business meeting organized jointly by FICCI, CII and ASSOCHAM, Mr. Macri said that Argentina can partner with India in sectors like agriculture, energy, IT,  tourism, mining and renewable energy to deepen the trade ties between the two nations. The President urged businessmen on both the sides to take leverage of the opportunities that exist while inviting Indian companies to invest in Argentina.

 

Mr. Prasanna Sarambale, National Executive Committee Member, FICCI and CEO, Data Center Business and Group Head � Business Development, Sterling and Wilson Pvt. Ltd. said that there was no shortage of opportunities for India and Argentina to work together. "The political and economic landscape of our two countries has witnessed wide-ranging changes. The core focus of both the countries are inclusive growth, sustainable development and thriving business entrepreneurship", he added. Many leading Indian companies like Sterling Wilson, Bajaj, Cognizant Technologies, TAFE, Tata Consultancy Services, United Phosphorus Ltd. etc. were actively participating in development process of Argentina, he informed the delegates.

 

Mr. Adi Godrej, Past President, CII & Chairman, Godrej Group, said that the current administration has stepped up and liberalized the Argentine economy by lifting capital controls, floating the Peso, removing export controls on commodities, cutting energy subsidies, and reforming the country's official statistics. He added that it was a positive sign of the country's commitment towards strengthening the cooperation and exploring new avenues. "It is important to increase the two-way investment flows to further strengthen our ties  in sectors of mutual interest", added Mr Godrej.

 

Dr. Vinay Sharma, Managing Committee Member, ASSOCHAM and Managing Director, Oil Field Warehouse and Services Ltd., said that the key to strengthening the relationship between India and Argentina was the strong connect between the business community and Government on both sides. He said that India offered the perfect ecosystem for investment opportunities and ease of doing business in the various economic sectors that companies from Argentina can explore. Dr. Sharma highlighted agriculture, oil and gas, IT, space research, mining, tourism and infrastructure as potential areas that the Indian companies can explore for investments in Argentina.