Buenos Aires [Argentina], August 29 (ANI): India and Argentina have agreed to step up efforts to improve market access for Indian pharmaceutical and agricultural products, with technical talks underway on farm exports and Argentina working to upgrade India's status under its pharmaceutical regulatory framework, according to the Ministry of Commerce and Industry.

The developments were discussed at the fourth India-Argentina Joint Trade Committee (JTC) meeting held in Buenos Aires on August 24. The Indian delegation was led by Commerce Secretary Rajesh Agrawal, while the Argentine side was led by Ambassador Fernando Brun, Secretary for International Economic Relations.

Argentina has committed to work towards upgrading India from Annex II to Annex I under its pharmaceutical regulatory framework and reducing barriers to entry for Indian medicines. The move is expected to provide greater opportunities for Indian pharmaceutical companies and improve access to quality and affordable healthcare in Argentina.

The two sides also noted progress on sanitary and phytosanitary (SPS) measures for Indian onions, milk and milk products, grapes, potatoes, bananas and pulses. Technical-level discussions are underway to facilitate their entry into the Argentine market.

The discussions come as bilateral trade between India and Argentina crossed USD 6.5 billion in 2025, registering annual growth of more than 17 per cent. India is now Argentina's fifth-largest trading partner, highlighting scope for further expansion and diversification of trade.

The JTC also reviewed investment opportunities in mining, energy and infrastructure, including the involvement of India's KABIL in Argentina's lithium sector. KABIL has completed Phase II drilling at its lithium project in Catamarca, while opportunities in Salta and Jujuy are also being explored.

The two sides identified aviation, space technology, telecommunications and digital services, including 5G, artificial intelligence and digital infrastructure, as areas for greater cooperation.

The India-MERCOSUR Preferential Trade Agreement was also discussed, with progress on the Terms of Reference and the adoption of digital certificates of origin expected to make cross-border trade easier for businesses.

Commerce Secretary Agrawal also held meetings with Argentine officials on agriculture, non-tariff barriers, pharmaceutical regulatory recognition, and space and nuclear cooperation, including a proposed meeting between ISRO and Argentina's CONAE.

The JTC was followed by the India-Argentina Business Forum on August 25, where Agrawal led India's first and largest-ever business delegation to Argentina, comprising more than 25 business leaders, including representatives from UPL, Kirloskar and Aditya Birla Group.

The delegation explored trade and investment opportunities in agriculture, minerals, energy, pharmaceuticals, healthcare, tourism, banking and telecommunications, with the focus on converting government-level discussions into business partnerships, the ministry said. (ANI)