The past decade has seen a significant rise in trade and investment flows between India and the Latin American and Caribbean (LAC) region – be it through IT or joint ventures in the oil and gas sector. From a mere $1.7 billion in 2000, trade between India and Latin America in 2011 reached $25 billion, and is projected to reach $70 billion by 2015. Solid fiscal management and prudent financial practices in the LAC region have aided this process. The latest round of India-CELAC is also an indication of increased political will.
On August 17, Gateway House: Indian Council on Global Relations hosted Ambassador R. Vishwanathan, India’s former Ambassador to Argentina, Uruguay, Paraguay, in discussion with Shivnath Thukral, Group President, Corporate Branding & Strategic Initiatives, Essar Group, to discuss the scope of Indian businesses’ future engagement with the economies of the LAC region.
The panelists examined the new Latin American market, its synergies and complementarities with Indian businesses, and discussed the way forward for India to expand its relationship with the LAC region.
R. Viswanathan is the former Indian Ambassador to Argentina, Uruguay and Paraguay. Prior to that, he served as the Ambassador to Venezuela, and as Consul General in Sao Paolo, Brazil. He has been the head of the LAC, and the Investment and Trade Promotion Division, in India’s Ministry of External Affairs. Currently, he is Gateway House’s Senior Adjunct Latin American Studies Fellow.
Shivnath Thukral is the Group President, Corporate Branding & Strategic Initiatives, at the Essar Group. Apart from driving the group’s corporate brand campaign in India and overseas, he spearheaded the communications for Essar Energy’s debut IPO on the LSE, and the acquisition of Shell’s Stanlow refinery in the UK. A veteran journalist, with 14 years of experience in the field, his last role was as Group Business Editor & Advisor, Strategy, with NDTV.