The 10th CII India-LAC Conclave, held in New Delhi, India, on March 19-20, 2025, focused on enhancing bilateral and multilateral relations between India and the Latin America and Caribbean (LAC) region. Discussions revolved around trade expansion, food security, renewable energy, and economic collaboration, with agreements signed to boost cooperation.
The 10th Confederation of Indian Industry (CII) India-LAC Conclave took place in New Delhi, emphasizing strengthened economic ties and cooperation between India and the Latin America and Caribbean (LAC) region. The event focused on boosting trade, investment, and partnerships in key sectors, including agriculture, food security, information and communication technology (ICT), and renewable energy.
Dr. Eduardo Martinez Diaz, Deputy Prime Minister of the Republic of Cuba, addressed the inaugural session titled Facilitating India-LAC Trade Relations: The Way Forward, where he stressed the importance of improving Global South relations. Cuba’s role as a founding member of the International Solar Alliance was highlighted as an avenue to foster renewable energy cooperation.
India’s Vision for Economic Collaboration
India’s Minister of State for External Affairs, Pabitra Margherita, reaffirmed the country’s commitment to strengthening South-South partnerships. He emphasized the seven pillars of India-LAC cooperation, as outlined by Prime Minister Narendra Modi, which include:
- Capacity building
- Agriculture and food security
- Renewable energy and climate change
- Innovation, technology, and trade
- Cultural exchanges
- Ocean economy
- Healthcare
Expanding Trade and Overcoming Barriers
Commerce Secretary of India, Sunil Barthwal, shared India’s aspiration to double its trade volume with LAC to USD 100 billion. He also addressed existing challenges such as tariffs and regulatory hurdles that hinder seamless trade expansion. Hiroshi Wago Rojas from CAF – Development Bank of Latin America stressed the importance of dialogue to ensure resilient and inclusive trade frameworks.
Jai Shroff, representing CII, highlighted the significance of prioritizing food security, energy security, and environmental sustainability in future partnerships.
Key Agreements Signed
Two major Memorandums of Understanding (MoUs) were signed during the event to further cement economic cooperation:
- One between CII and CAF – Development Bank of Latin America.
- Another with Fecomércio-GO, Brazil, promoting trade and investment opportunities between India and Brazil.
The conclave underlined the importance of connectivity, digital solutions, and the involvement of small and medium-sized enterprises (SMEs) in shaping a strong India-LAC partnership. With trade and economic cooperation at the forefront, both regions are set on a path toward sustainable growth and mutual prosperity.
