During his ongoing trip to Panama, Jaishankar delivered the keynote address at the India-Latin America Business event, highlighting 10 important reasons why the India-Latin America business collaboration has strong prospects and merits-focused endeavours.
“As the fifth largest economy, our presence across the world is steadily growing. Transformation in manufacturing, infrastructure, innovation and startup culture within India are game changers.”
“Nearing $50 billion, India-Latin America trade has a much-diversified basket. A significant increase in investments and interest in mining, energy, agro and infrastructure sectors will power it further,” he said.
Jaishankar said the reforms in India have led to record Indian exports. “Latin America is an attractive market. Providing vaccines to 100 countries and medicines to 150; India’s proposition as the ‘Pharmacy of the World’ is welcomed by all,” he added.
“A robust digital backbone in India allows the delivery of public goods and tools for business. Manufacturing pickup via production-linked incentives and support to vendor chains and MSMEs. Indian products are a natural fit for the Latin American middle class,” Jaishankar emphasised.
“Indian project execution has grown across geographies. Made in India and Delivered by India are globally becoming realities. Indian agriculture is making strides in yields, quality and technology. This has external implications,” the minister pointed out.Jaishankar said the brand is getting stronger as India is trusted in the digital domain. Indian talent and skills consider the world as a workplace today. Initiatives like Skill India, Startup India and New Education Policy are a part of this mosaic.
Jaishankar on Monday arrived in Panama City for a two-day visit. Jaishankar was received by Panama’s vice minister for foreign affairs Vladimir Francos.
During this visit, the India-SICA Foreign Ministerial Meeting will also be convened wherein Jaishankar will meet representatives of the eight-country Central American Integration System (SICA).
Earlier, Jaishankar and Panama’s foreign minister Janaina Tewaney held a joint press conference on Monday after holding discussions on several bilateral issues related to health and trade.
Addressing the joint briefing, Jaishankar said India and Panama discussed what can be done to expand the cooperation and how Indian pharmaceuticals can be brought to Panama.
“In the last three years, Indian pharmacy has made a change in the world. In Covid we supplied vaccines, and we exported medicines to most of the developed world,” Jaishankar said.
“Covid has taught us not to be dependent on very limited centres of production, on supply chains that can be disrupted, so it is very important that there are more regional capacities, it is particularly important in health. It is not just trading, as research goes into it, we discussed how we can bring Indian pharmaceuticals to India,” the minister added.
Jaishankar said further that India sees Latin America as a region that is not too far as the trade is heading towards $50 billion.
“Our companies are doing big projects in Latin America, we have large operations of Indian companies, we have daily exchanges, we have a capacity building and we have a diaspora here,” the EAM added.
On Sunday, while speaking at the inauguration of the ocean-going passenger-cum-cargo ferry MV Ma Lisha in Guyana, Jaishankar said the ferry is a testimony of the close friendship between the two nations. The ferry serves the dual purpose of being a passenger and a cargo ferry in Guyana. It can carry almost 300 passengers, 14 cars, two trucks, 14 containers and other assorted cargo. He was on a visit to Guyana from April 21-24.
On April 25, the minister will visit Colombia where he will meet top representatives of the government, business and civil society. He will be the first Indian foreign minister to visit Colombia. Jaishankar and his Colombia counterpart Alvaro Leyva Duran will review bilateral ties.
From Colombia, Jaishankar will head to the Dominican Republic, according to an MEA release. The visit to the Dominican Republic is the highest-level visit from India since the establishment of diplomatic ties with the country in 1999. Jaishankar’s visit also takes place after the establishment of India’s resident embassy in Santo Domingo in 2022.
Besides calling on the country’s political leadership, the minister will hold discussions with foreign minister Roberto Alvarez. The two leaders will formally inaugurate the Indian resident mission. The minister is also expected to deliver a talk at the Dominican Republic foreign ministry.