Critical minerals and defence ties in focus as PM Modi visits Argentina this week

Prime Minister Narendra Modi's visit to Argentina this week comes at a particularly significant time as the South American nation is undertaking major economic reforms somewhat similar to those India went through in the past, the Ministry of External Affairs (MEA) said on Monday. 

PM Modi will travel to Argentina on an official visit from July 4-5, at the invitation of country's President Javier Milei.

This would be the third leg of his five-nation visit, following visits to Ghana, Trinidad and Tobago (T&T) starting July 2 and before Brazil (July 5-8) and Namibia (July 9).

PM Modi has travelled earlier to Argentina for a G20 meeting in 2018, but this will be the first bilateral visit by an Indian PM in the last 57 years and therefore remains historic.

As part of the programme, the Prime Minister would start the visit by paying respects at the statue of General Jose de San Martín, Argentina's revered freedom fighter and national hero. The Prime Minister will then be accorded a ceremonial welcome and have delegation-level talks, followed by a lunch hosted by President Milei in honour of the PM. Argentina is a strategic partner of India since 2019 and the two countries celebrated 75 years of diplomatic relations last year.

According to the MEA, both leaders will discuss subjects of economic and trade interest to further strengthen bilateral relations.

"India's advancements in defence manufacturing, in the space sector, in new areas such as information technology and DPI can offer valuable expertise and we can share experiences with Argentina. Our expertise in Telemedicine and Digital healthcare solutions are also an offer for Argentina in expanding access to medical services and improving overall quality and cost-effective healthcare delivery," said MEA Secretary (East) P. Kumaran while addressing a special media briefing ahead of the PM's visit.

Both leaders are scheduled to review ongoing cooperation and discuss ways to further enhance India-Argentina partnership in key areas including defence, agriculture, mining, oil and gas, renewable energy, trade and investment, and people-to-people ties.

India and Argentina have significantly advanced bilateral cooperation in the mineral resources sector, particularly in lithium — a critical input for India's green energy transition. An MOU on cooperation in the field of mineral resources was signed in August 2022 between India and Argentina. The first meeting of the Joint Working Group under the MOU was held in January 2025.

"Argentina holds the world's second largest shale gas reserves and the fourth largest shale oil reserves along with of course substantial conventional oil and gas deposits, making it a potentially important energy partner for India in the future. Argentina's rich reserves of critical minerals such as lithium, copper and other rare earth elements complement India's growing need for secure and sustainable supplies to these elements for its clean energy transition and industrial growth. India's public sector, KABIL, has already won a few concessions in Argentina since 2024. Our leaders will be discussing more on this subject," Kumaran added.

Quite significantly, India-Argentina bilateral trade more than doubled in three years from 2019 to 2022, peaking at USD 6.4 billion in 2022. In 2021 and 2022, India was Argentina's fourth largest trading partner. Argentina is one of the prime suppliers of edible oils – soybean and sunflower – to India. In 2024, total annual bilateral trade between India and Argentina rose by 33 per cent to USD 5.23 billion, positioning India as Argentina's fifth-largest trading partner and export destination.

Picture Courtesy: IANS