The 10th CII India-LAC Conclave 2025 served as a pivotal platform to reaffirm the growing strategic partnership between India and the Latin American and Caribbean (LAC) region. This collaboration, spearheaded by CAF – Development Bank of Latin America and the Caribbean, aimed to foster trade, investment, and sustainable growth.
The economic relationship between India and LAC countries has witnessed exponential growth over the past two decades. Mr. Hiroshi Wago Rojas, Director of Global Partnerships, CAF – Development Bank of Latin America, illustrated this by recalling the remarkable trade expansion: In 2001, trade between the two regions stood at approximately $1.6 billion. By the beginning of this decade, it had surged to $43 billion.
This significant rise reflects the untapped potential of deeper economic integration. However, Mr. Rojas pointed out that around 84% of the trade is concentrated in just four countries—Brazil, Mexico, Argentina, and Colombia. “There is immense potential in emerging markets such as the Caribbean Community (CARICOM) and the Andean region, which hold significant growth opportunities,” he underlined.
CAF’s commitment to fostering stronger cooperation was further reinforced with the signing of a Memorandum of Understanding (MoU) with the Confederation of Indian Industry (CII). This partnership aims to create a robust platform for ongoing public-private dialogue.
Mr. Rojas stressed the importance of continuous high-level engagement to harmonise regulations, facilitate easier access to financing, and encourage greater participation from the private sector. “We strongly believe that a permanent dialogue mechanism is essential for regulatory harmonization, financing access, and building a more inclusive trade ecosystem,” he stated.
Another key pillar of the India- LAC partnership is the focus on enhancing digital and physical infrastructure. Mr. Rojas cited India’s ambitious initiative to connect 700,000 villages with fiber-optic networks as an inspiring model. “This is something our region needs to replicate, leveraging digital platforms to enhance urban connectivity and promote sustainable transport systems,” he remarked.
CAF is committed to scaling up infrastructure projects across the LAC region, including digital transformation strategies and sustainable urban mobility solutions, with support from Indian expertise and investment.
The growing presence of Indian companies in the LAC region is a demonstration of the strengthening ties. Currently, around 134 Indian companies operate in LAC countries, employing approximately 70,000 people. Their investments span diverse sectors, including technology, pharmaceuticals, manufacturing, and renewable energy.
Mr. Rojas lauded the role of the Indian private sector in skill development and local empowerment. “We strongly believe that investing in local talent and empowering communities is the most effective way to foster long-term, sustainable growth,” he noted.
A core focus of CAF’s strategy is promoting sustainable development through green financing. Mr. Rojas highlighted CAF’s commitment to allocating 35% of its portfolio to green operations, which include renewable energy, climate adaptation, and low-carbon initiatives. “As the green transition becomes a key pillar of global growth, we are determined to lead by example in promoting sustainability across the LAC region,” he asserted.
Mr. Rojas underscored the spirit of unity and shared prosperity that defines the India-LAC partnership. Quoting Nobel Peace Prize laureate Kailash Satyarthi, he stated:
“The first mantra of the Vedas, the oldest scriptures of knowledge and wisdom, says that each of us has a spark we need. Each of us has the potential we need to make a better and more beautiful society. Thy light of knowledge and wisdom shall also be turned in to share with prosperity so that everyone can benefit together. This is the foundation of peace, this is the foundation of sustainability, and this is the foundation for creating a global family.”
CAF, as a promoter of Latin America and the Caribbean on the global stage, sees India as a vital partner in advancing regional development. “Together, we have the opportunity to ignite this spark, fostering greater connectivity, inclusivity, and sustainability for a shared future,” Mr. Rojas concluded.
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