India-Argentina Bilateral Trade Crosses $6.5 Billion as Both Sides Seek Enhanced Market Access
Bilateral trade between India and Argentina has crossed USD 6.5 billion in 2025, recording an annual increase of more than 17 per cent, according to the Ministry of Commerce and Industry. The milestone comes as both countries move to expand trade ties and improve market entry across pharmaceuticals, agricultural commodities, and critical mineral supply chains.
What Happened
The economic partnership was reviewed during the fourth India-Argentina Joint Trade Committee (JTC) meeting convened in Buenos Aires on August 24. The Indian delegation was headed by Commerce Secretary Rajesh Agrawal, while the Argentine team was led by Ambassador Fernando Brun, Secretary for International Economic Relations.
Key regulatory decisions emerged from the meeting, notably Argentina’s commitment to work toward moving India from Annex II to Annex I within its pharmaceutical regulatory framework. This change is designed to reduce entry barriers for Indian medicines. Alongside the pharmaceutical push, technical deliberations are underway regarding sanitary and phytosanitary (SPS) measures to clear Indian exports of onions, milk and milk products, grapes, potatoes, bananas, and pulses into Argentina.
The bilateral discussions were immediately followed on August 25 by the India-Argentina Business Forum. Commerce Secretary Agrawal led India’s first and largest-ever commercial delegation to Argentina, featuring more than 25 corporate leaders representing major industry entities such as UPL, Kirloskar, and Aditya Birla Group.
Key Highlights
- Bilateral Trade Volume: Total trade surpassed USD 6.5 billion in 2025 with an annual expansion rate above 17 per cent, positioning India as Argentina’s fifth-largest trading partner.
- Pharmaceutical Upgrades: Argentina is working to upgrade India’s classification from Annex II to Annex I under its drug regulatory system, aiding healthcare accessibility and market access.
- Farm Export Clearance: Ongoing technical consultations cover SPS clearances for Indian bananas, potatoes, grapes, onions, pulses, and dairy products.
- Critical Minerals: India’s KABIL completed Phase II exploratory drilling at its lithium site in Catamarca, with further exploration under consideration in Jujuy and Salta.
- India-MERCOSUR PTA: Negotiators noted progress on Terms of Reference alongside the introduction of digital certificates of origin to streamline commercial documentation.
- Expanded Collaboration: Both sides identified strategic cooperation in aviation, digital infrastructure, artificial intelligence, 5G, telecommunications, and space—including planned engagements between ISRO and Argentina’s CONAE.
Why This Matters
With India ranked as Argentina’s fifth-largest trading partner, the formal lowering of regulatory hurdles directly impacts key export sectors. Upgrading India’s pharmaceutical standing eases market entry for drug manufacturers, intended to provide affordable healthcare alternatives in Argentina. Concurrently, resolving SPS processes opens Latin American market channels for Indian agricultural goods, while joint exploration in Argentina’s lithium reserves by KABIL directly supports long-term mineral and energy supply chains.
What to Watch Next
Official engagements will continue through technical-level discussions focused on resolving farm product entry requirements and formalising India’s transition to Annex I status under Argentina’s drug regulations. Furthermore, bilateral engagements will advance toward operationalising digital certificates of origin under the India-MERCOSUR Preferential Trade Agreement and facilitating inter-agency coordination between ISRO and Argentina’s space agency, CONAE.
Frequently Asked Questions
What was the total trade value recorded between India and Argentina?
Bilateral trade between the two nations surpassed USD 6.5 billion in 2025, registering a year-on-year increase of over 17 per cent.
What regulatory change did Argentina offer for Indian pharmaceutical exports?
Argentina committed to working toward shifting India from Annex II to Annex I under its pharmaceutical regulatory system to diminish entry barriers for Indian medications.
Which Indian agricultural commodities are currently under technical review?
Technical-level talks on sanitary and phytosanitary measures are progressing for Indian onions, potatoes, grapes, bananas, pulses, and milk and dairy products.
What investments are being pursued in the energy and mining sectors?
India’s KABIL has wrapped up Phase II drilling at a lithium mining project in Argentina’s Catamarca province, with potential projects also being evaluated in Salta and Jujuy.
Source: Ministry of Commerce and Industry via Awaz The Voice report.