The Indian Minister of External Affairs underscored the significance of cooperation with Latin American nations in addressing global issues. He emphasized that by leveraging their shared strengths, expertise, capabilities, and resources, they can forge a robust partnership that would benefit both regions.

The government of India has announced plans to boost trade with Latin America and the Caribbean (LAC). According to Indian projections, the trade volume could surpass 100 billion USD by 2027. To achieve this goal, New Delhi is actively preparing a series of targeted initiatives focused on four key areas, which the Narendra Modi administration believes will contribute to its realization.

Trade between India and the Latin American countries amounted to approximately 50 billion USD at the end of the 2022–2023 period. Moreover, under the framework of the India Partnership Programme, New Delhi established credit lines totaling 900 million USD for several countries in the region.