Latin American economies have slowed down and imports have declined in 2014. However, the growth is expected to be better in 2015. The Pacific Alliance members are flourishing with open and liberal markets although Mercosur remains relatively closed and protected. Brazil has voted for the status quo but Argentina will opt for a more liberal President next year. Mexico has emerged as a competitive hub of manufacturing in the hemisphere. There is hope for Venezuela whose economy cannot get any worse. Even as Latin America offers immense opportunities to cooperate in terms of foreign policy and investment, it is still an untested frontier for Indian businesses.
On December 2, Gateway House hosted a meeting titled ‘India and Latin America: a business outlook’, the sixth meeting in the Nation building series which saw Ambassador Viswanathan, Distinguished Fellow, Latin American Studies decode Latin America. He spoke on issues such as ‘How will the macroeconomic and political developments of the Latin American region impact India? What are the opportunities for India’s trade and investment in Latin America? What are the Latin American success stories which could be useful to India’s nation-building?’.
R. Viswanathan is the former Indian Ambassador to Argentina, Uruguay and Paraguay (2007-2012). He was earlier the Ambassador to Venezuela and served as the first Consul General of India in Sao Paulo, Brazil. He has headed the Ministry of External Affairs’ division on Latin America and the Caribbean, as well as its Investment and Trade Promotion Division. He has specialised in Latin America since 1996 and has been a regular contributor to newspapers and business journals, besides giving lectures on the subject at think tanks and universities across India, Latin America and the United States.
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