Excelsior Correspondent
NEW DELHI, July 24: India and Argentina have agreed for a bilateral exchange of young researchers and Startups, particularly in the field of Biotechnology and Agriculture.
This was stated here today by Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space Dr Jitendra Singh when the Governor of Santa Fe province of Argentina, Omar Angel Perotti called on him, accompanied by a high level delegation.
The two countries also decided to hold comprehensive talks between delegations comprising academia, R&D Institutes and Industry in the field of Science & Technology and Biotechnology, said the Minister.
Dr Jitendra Singh mentioned that a new Indo-Argentina call for joint proposals was launched on February 7, 2023 in the research areas of Energy Transition and Biotechnology jointly during his meeting with the Argentinas’s Minister of Science, Technology and Innovation, Daniel Filmus’s visit to India. . A total of 82 joint proposals were received under the said call. These are under the evaluation process.
Santa Fe Province accounts for as many as 8 of these joint proposals, said Perotti, adding that the province also accounts for about 80% of bilateral trade between India and the Latin American nation. The Governor mentioned that Santa Fe is the hub of R&D institutions in Biotechnology and Agricultural research especially in Soyabean, and close tie ups with universities and industry in the province. Pioneering work has been done here in disease resistant seed production, he said.
Dr Rajesh S. Gokhale, Secretary, Department of Science & Technology (DST) & Department of Biotechnology (DBT) and Dr. N. Kalaiselvi, Director General, Council of Scientific and Industrial Research (CSIR) comprised the Indian delegation while the Argentine delegation included Presidents of the two major Stock Exchanges in Santa Fe and Vice-Chancellors of three Universities in the province besides the Ambassador of Argentina to India, Mr Hugo Gobby.
India is the 4th largest trading partner of Argentina, with bilateral trade touching a historic peak of USD 6.4 billion in the year 2022, recording a growth rate of 12% over 2021. Exports from India to Argentina was worth USD 1.84 billion (31% growth rate) while India’s imports from Argentina was worth USD 4.55 billion. As per DGFT, India-Argentina bilateral trade during the fiscal year 2022-23 was USD 4.16 billion, with India’s exports to Argentina valued at USD 961 million and Argentina’s exports to India valued at USD 3.20 billion.
Major items of India’s exports to Argentina include petroleum oils, agro chemicals, yarn-fabric-made ups, organic chemicals, bulk drugs and two-wheelers. Major items of India’s imports from Argentina include vegetable oils (soya bean and sunflower), finished leather, cereals, residual chemicals and allied products and pulses.
Several Indian companies have established operations in Argentina with a total investment of over USD 1 billion. Argentina’s investment in India stands at approximately USD 120 million. Argentine companies with presence in India include Globant and OLX in IT services and TECHINT in the manufacturing sector.
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