Courtesy: wikimediacommons
Even small Indian IT companies have managed to succeed in the Latin American market. Understanding the local culture is one of the main keys to success as illustrated in the case of Mann India Technologies, which was one of the earliest Indian entrants in the Latin American IT market.
Courtesy: Google Maps
In 'Latin America Update' Gateway House lists some of the important events in Latin America over the past month
Courtesy: Ministry of External Affairs, India
In 'India-Latin America Engagements', the Latin America Desk at Gateway House presents a selection of news of India’s engagement with the region during the previous month
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A recent UN report praises governments for promoting the right to food. At the same time, India’s Food Security Act will encounter resistance at the WTO meeting in Bali in December. Can India play an exemplary role in the global power struggle over food security?
Courtesy: Embassy of India, Venezuela
CELAC (Community of Latin American and Caribbean States) chose India as its first dialogue partner, expressing its intent to expand trade and diversify. Given the increased political will from both sides, can CELAC be the driver for India-Latin America relations or will bilateral ties maintain the status quo?
Courtesy: PMO
India seems to be treading down the path of fruitless populism that crippled many countries in the past, most notably in Latin America. But like Latin America, India too can embark on a course-correction by implementing pragmatic economic policies alongside progressive but results-driven social spending.
Courtesy: Casa de Gobierno en Argentina/Wikimedia
The past decade has seen a significant rise in trade and investment flows between India and the Latin American and Caribbean (LAC) region. With an international system in flux, it is time for India and LAC to work together to shape a global order that better reflects current economic realities.
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Although India’s trade with Latin America has increased considerably, there is still much potential to be exploited. India’s should adopt an aggressive market oriented strategy by identifying local partners wherever possible to enable Indian companies to penetrate the region.