Trade between India and South America set to double by 2030

In a statement delivered at Uruguay’s national day ceremony, Ambassador Alberto Antonio Guani Amarilla outlined the economic outlook for India’s engagement with South America. He announced the upcoming opening of an Indian embassy in Uruguay, a move that coincides with 75 years of diplomatic relations.

The ambassador pointed out that current trade between India and the South American bloc hovers around $50 billion, encompassing commodities, services and technology. He forecasted a near‑term target of $100 billion by 2030, driven by increased investment, infrastructure projects and collaborative ventures.

Prime Minister Narendra Modi’s recent outreach to Brazil and Argentina was cited as a key factor in accelerating trade flows. The ambassador praised Modi for positioning India as a global leader that supports developing economies and promotes multilateral cooperation.

Both nations share a commitment to resolving international tensions through dialogue, a stance reiterated by the ambassador when he referenced the escalating military strain between the United States and Iran. He urged continued peaceful engagement and highlighted the importance of renewable energy as a pathway to reduced geopolitical friction.

The coming establishment of the embassy is expected to provide a dedicated platform for businesses, investors and cultural groups, further strengthening the economic bridge between India and South America.