NEW DELHI: Argentina has committed to reducing barriers to facilitate the entry of the Indian pharmaceutical sector into the South American market, according to an official statement released by the commerce ministry on Saturday.
The commitment was made during the visit of Commerce Secretary Rajesh Agarwal to Buenos Aires for the India-Argentina Joint Trade Committee (JTC) meeting, held on August 24, 2026, at Palacio San Martín. Agarwal co-led discussions alongside Ambassador Fernando Brun, Secretary for International Economic Relations.
According to the commerce ministry, Argentina agreed to work towards upgrading India from Annex II to Annex I under its pharmaceutical regulatory framework. Officials noted that this regulatory shift is expected to create greater opportunities for Indian pharmaceutical companies while improving access to quality and affordable healthcare in Argentina.
Bilateral trade between India and Argentina crossed USD 6.5 billion in 2025, marking a consistent annual growth rate of over 17 percent. Alongside pharmaceuticals, the JTC discussions covered broader investment opportunities across mining, energy, and infrastructure sectors.
Discussions specifically highlighted the continued engagement of India's state-owned enterprise KABIL in Argentina's lithium sector. KABIL's mining activities in Catamarca—representing the first lithium mining initiative by an Indian company in the country—have progressed significantly following the completion of Phase II drilling.
The two nations also identified emerging areas for economic cooperation, including aviation, space technology, telecommunications, and digital services. Both sides pointed to 5G, artificial intelligence, and digital infrastructure as key sectors offering further commercial opportunities.
Furthermore, the visit addressed the expansion of the existing preferential trade agreement (PTA) between India and the Mercosur trade bloc, which comprises Brazil, Argentina, Uruguay, and Paraguay. The India-Mercosur PTA originally came into effect on June 1, 2009.
Progress on the Terms of Reference, alongside the adoption of digital certificates of origin, is anticipated to streamline cross-border commerce and make trade more efficient for businesses operating between the regions.
"The regulatory upgrade of Indian pharmaceuticals in Argentina marks a notable step forward for bilateral economic ties. Beyond pharma, the ongoing progress in lithium mining through KABIL and discussions around the Mercosur preferential trade agreement highlight expanding avenues for cross-border collaboration. For businesses looking at Latin America, these regulatory adjustments will significantly ease market entry and reduce operational friction in high-growth sectors." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
