G7 summit 2022: Prime Minister Narendra Modi met President of Argentina Alberto Fernandez on the event of the G-7 summit in Munich on Sunday. During this, talks were held between the two leaders regarding bilateral relations. The multifaceted relations between the two countries include political, economic, cultural, scientific and technical cooperation.I
On 1943, India opened a trade commission in Buenos Aires. Which was converted into one of India's first embassies in South America during the year 1949. At the same time, in the year 2019, the relationship between the two countries grew to a strategic partnership. India emerged as the fourth largest trading partner of Argentina during the year 2021, with total trade between the two countries worth USD 5.7 billion.
Several Indian companies in Argentina have a total investment of over USD 1 billion in the country. Whereas Argentina's investment in India is about 120 million dollars. The two countries have cultural ties, with Indian culture, yoga, meditation, philosophy, spiritualism, dance and music widely popular in Argentina. India gives Indian Technical and Economic Cooperation Program (ITEC) scholarships to 40 to 45 working professionals from Argentina every year.
Let us tell you, about 2,600 Overseas Indians (NRIs) and persons of Indian origin live in Argentina. These also include professionals working with Indian and multinational corporations. Meanwhile, PM Modi reached Munich on Sunday to attend the G-7 summit. Here he will hold meetings with the G-7 and allies, in which issues ranging from environment and energy to the fight against terrorism will be discussed.