The India-Latin America relationship has gained momentum over the past decade – both economic and political. New Delhi has strong bilateral engagements with certain countries in the region (such as Brazil), and works closely with regional groups (like Mercosur). Indian investment in the region is estimated at over $12 billion, and trade at more than $25 billion. Energy is clearly the biggest trade component in the India-Latin America relationship. It accounts for more than $10 billion in trade and contributes to roughly 10% of India’s total oil imports. What are India’s future prospects in Latin America? Can the energy sector be the driving force in strengthening the India-Latin America relationship?
On 25 September, Gateway House hosted a meeting with Ambassador Deepak Bhojwani, former Indian ambassador to Cuba, Colombia and Venezuela, in conversation with Ajit Ranade, Chief Economist of the Aditya Birla Group, to discuss “India’s prospects in Latin America: Can energy be the driver?.” They discussed various components of the India-Latin America relationship and especially the potential for cooperation in the hydrocarbons sector.
Ambassador Deepak Bhojwani joined the Indian Foreign Service (IFS) in 1978 and was accredited as Ambassador in seven Latin American countries, being resident Ambassador in Colombia, Venezuela and Cuba. He was also Consul General in Sao Paulo, accredited to five southern States of Brazil.
Dr. Ajit Ranade serves as the Chief Economist of the Aditya Birla Group. His professional career has spanned academic and corporate assignments, including teaching in universities in India and U.S.
Gateway House meetings are for members and special invitees only, and they are off-the-record and not for attribution. If you are interested in becoming a member, click here for more details.