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Latin American and Caribbean countries are keen on forging business alliances with India.
Speaking at the CII’s outreach programme with the delegation from Latin America and Caribbean (LAC) countries, Villagomez, Ambassador of Ecuador and Coordinator of the Latin American and Caribbean Group, said since the year 2000, Indian companies have invested about $12 billion in the LCA region, in sectors such as information technology, pharmaceuticals, agro chemicals, mining, energy, manufacturing and many other verticals.
At Monday’s meet, ambassadors and senior officials from 14 Latin American and Caribbean countries, including Bolivia, Chile, Colombia, Costa Rica, Ecuador, Guatemala, Mexico, Peru, Suriname, Trinidad & Tobago and Venezuela, made presentations on the vast potentials for cooperation between India and the LAC countries.
Augusto Montiel, Ambassador of Venezuela to India, while inviting Indian investment in his country, assured India of uninterrupted supply of oil.
Melba Pria, Ambassador of Mexico to India, said Mexico is the largest investor from Latin-America, with an FDI flow of over $800 million between 2009 and 2015. India’s FDI into Mexico totalled over $2.5 billion between 1999 and 2015. Trade between the two countries grew 387 per cent between 2004 and 2014, to $6.4 billion.
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