Commerce Secretary Shri Rajesh Agrawal Leads 4th India–Argentina JTC Meeting; Both Sides Reaffirm Commitment to Deepen Strategic and Economic Partnership

Key Highlights:

• The 4th India–Argentina Joint Trade Committee (JTC) meeting was held on August 24, 2026, in Buenos Aires.
• Bilateral trade between India and Argentina crossed USD 6.5 billion in 2025, with India as Argentina’s fifth-largest trading partner.
• KABIL's lithium mining initiative in Catamarca, Argentina, has progressed significantly with Phase II drilling completed.
• Progress was made on facilitating market access for Indian agricultural products and pharmaceuticals in Argentina.
• Emerging areas like aviation, space technology, telecommunications, and digital services were identified for cooperation.
• The India–MERCOSUR Preferential Trade Agreement remains an important avenue for expanding market access.
• The first and largest-ever Indian business delegation participated in the India–Argentina Business Forum.

Detailed Insights:

• The meeting reviewed the roadmap agreed during Prime Minister Modi’s 2025 visit, reaffirming commitment to deepen strategic and economic partnership.
• Argentina is working to facilitate foreign trade, reduce non-tariff barriers, and promote investment for Indian companies.
• Opportunities for further lithium engagement are being explored in Salta and Jujuy provinces.
• Technical discussions on Sanitary and Phytosanitary (SPS) measures are advancing for Indian onions, milk, grapes, potatoes, bananas, and pulses.
• These developments support India’s objective of achieving Viksit Bharat 2047 and strengthening bilateral agricultural trade.
• Argentina committed to upgrading India from Annex II to Annex I under its pharmaceutical regulatory framework.
• Cooperation in Ayurveda and Yoga will be strengthened, building on the 2019 Memorandum of Understanding between ANMAT and CDSCO.
• Progress on Terms of Reference and adoption of digital certificates of origin are expected for the India–MERCOSUR PTA.
• The Business Forum aimed to translate government-to-government engagement into tangible commercial outcomes.

Key Concepts Involved:

• Joint Trade Committee (JTC): A bilateral mechanism established between countries to review and promote trade and economic relations.
• Sanitary and Phytosanitary (SPS) Measures: Regulations applied by governments to protect human, animal, or plant life or health from risks like pests, diseases, or contaminants.
• Preferential Trade Agreement (PTA): An agreement between two or more countries to reduce tariffs on certain products, giving preferential access to each other's markets.
• Viksit Bharat 2047: India's vision to become a developed nation by 2047, marking 100 years of independence.