India, Argentina vow to boost trade, defence, and mineral ties during PM Modi’s historic visit

During the talks, PM Modi thanked President Milei for Argentina’s support after the Pahalgam terror attack and appreciated the solidarity shown by the country in difficult times.

Prime Minister Narendra Modi and Argentine President Javier Milei held wide-ranging talks in Buenos Aires on Saturday, agreeing to expand cooperation across sectors such as defence, energy, pharmaceuticals, and critical minerals. The meeting marked the first bilateral visit by an Indian prime minister to Argentina in 57 years.

PM Modi, on the third leg of his five-nation tour, described India and Argentina as "natural partners" and called for taking their strategic partnership to "greater heights". The leaders discussed plans to diversify two-way trade and deepen collaboration in critical sectors.

“We are marking 75 years of India-Argentina diplomatic relations and five years since we elevated our relationship to a Strategic Partnership,” PM Modi said in a post on X. “We have covered significant ground in our bilateral relations, but we agree that the journey ahead is even more promising.”

Excellent meeting with President Javier Milei of Argentina. We are marking 75 years of India-Argentina diplomatic relations and 5 years since we elevated our relationship to a Strategic Partnership. We have covered significant ground in our bilateral relations, but we agree that… pic.twitter.com/3fG6ojU4ZD

— Narendra Modi (@narendramodi) July 5, 2025

"President Milei and I discussed ways to diversify trade ties, cooperation in agriculture, defence, security, energy and more. There is immense scope in areas like pharmaceuticals and sports as well," he also noted.

During the talks, Prime Minister Modi thanked President Milei for Argentina’s support after the Pahalgam terror attack and appreciated the solidarity shown by the country in difficult times.

A major focus of the discussions was on critical minerals, particularly lithium, as India seeks to reduce dependence on China and secure resources for its clean energy transition. Argentina’s vast reserves of lithium, copper, and rare earth elements were identified as strategic to India's industrial and energy ambitions.

Secretary (East) in the Ministry of External Affairs, Periasamy Kumaran, said that PM Modi and Milei also discussed energy cooperation, with India viewing Argentina’s shale oil and gas reserves as a promising new source of supply. Argentina has the world’s second-largest shale gas and fourth-largest shale oil reserves.

In defence, India offered support for the maintenance of Argentina's military helicopters and proposed several defence platforms. Both leaders expressed interest in leveraging their experiences and capacities to bolster defence and security ties.

India also pitched for greater market access for its pharmaceuticals and agricultural products. PM Modi urged Argentina to upgrade India’s regulatory status in its pharmaceutical framework to enable smoother access for Indian medicines. In return, Argentina briefed India on a fast-track approval process for drug imports.

On trade, PM Modi sought Argentina’s support for expanding the India-MERCOSUR Preferential Trade Agreement, which could open more opportunities for both economies. In 2024, bilateral trade stood at USD 5.23 billion, making India Argentina’s fifth-largest trading partner.

The two sides agreed to set up a joint working group on agriculture to explore mutual market access for dairy and farm products.

PM Modi also introduced President Milei to India’s Unified Payments Interface (UPI), showcasing it as a model for financial inclusion and monetary stability. The Argentine leader reportedly showed keen interest in understanding its potential.

The talks also touched upon potential cooperation in drone technology and digital innovation.

President Milei later hosted a lunch in PM Modi’s honour and presented him with the Key to the City of Buenos Aires.

India and Argentina have significantly strengthened ties in recent years, particularly in areas like mining, technology, and nuclear energy. An MoU on mineral cooperation was signed in August 2022, with the first joint working group meeting held in January 2023.

PM Modi’s visit is expected to deepen this momentum and pave the way for greater strategic alignment between the two democracies.