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After the historic visit of Ghana and Trinidad and Tobago, PM Modi has reached Argentina's capital Buenos Aires.

Prime Minister Narendra Modi has reached Argentina's capital Buenos Aires after the historic visit to Trinidad and Tobago as part of his five -day foreign trip. The Prime Minister was strongly welcomed there. Prime Minister Modi and Argentina President Xavier Milei can emphasize more on strategic partnership in both countries. In this Argentina, a treasure is found, which the whole world needs today.

Let's know what is that treasure? How Argentina is speeding up its economy and what does this country buy and sell from India? What does Argentina give to the world?

Argentina is the fifth largest lithium producer in the world

The name of the treasure found in Argentina is Lithium. It is an important role in Argentina's economy. In fact, this country is part of Lithium Triangle. This Triangle includes two more countries Bolivia and Chile. Together these three countries produce about 80 percent lithium in the world. Argentina is the fifth largest lithium producer in the world and is found here the third largest lithium reserves in the world.

Argentina has the third largest lithium reserves in the world. Photo: Pixabay

75 percent lithium production target in 2025

For the year 2025, Argentina has set a target of 130800 tonnes of lithium product, which is 75 per cent higher than last year (2025). According to Argentina Chamber of Mining Companies, most of the lithium production in Argentina is expected to be found through the expansion of new operations and other operations in Salta this year. Currently, there are 6 active lithium operations in Argentina, through which 74600 tonnes of lithium was produced in the year 2024. This was 62 percent more than the total production in 2023.

This treasure of Argentina is necessary for the world

Lithium found in Argentina has become the need of the world today. Actually, it is used in large quantities in electrical vehicles, batteries and energy sectors. In recent years, the production of electrical vehicles has increased rapidly worldwide and countries around the world including India are insisting on promoting it. Lithium has an important role in promoting clean energy strategy.

Apart from this, lithium is also used in batteries in petrol, diesel and CNG vehicles. This is also the need of countries around the world. Currently, China is the largest lithium consumer in the world, because there is the most produced cars and the same is the largest consumer of cars. Lithium is very important for electric vehicles and clean energy in India too.

In 2024, bilateral trade between India and Argentina had crossed US $ 5.2 billion.

India has acquired the right to lithium mining

India is working on various sources of energy here. Especially in the Gulf countries, Argentina may have a major role in fulfilling energy needs. Therefore, India's Mineral Foreign India Limited has already acquired the right to excavate Lithium in Katamarca province of Argentina. For this, on 15 January 2024, there was an agreement on the excavation of lithium between India and Argentina. The cost of this agreement was Rs 200 crore. Under this, India's government company Mineral Foreign India Limited has got the right to mining in Argentina and has to be allotted five lithium brine blocks.

What does Argentina buy and sell from India?

Today, India has become the fourth largest business partner in Argentina. Between 2019 and 2022, bilateral trade in these two countries had increased more than doubled and it has reached US $ 6.4 billion i.e. about 53 thousand crores. At the same time, in the year 2024, bilateral trade between India and Argentina had crossed US $ 5.2 billion. Petroleum oil, agricultural chemical and two -wheelers etc. are exported to Argentina from India. At the same time, India imports vegetable oil from Argentina such as soybean oil and sunflower oil, leather and grains. Apart from these, India is also interested in reducing dependence on Gulf countries on Shell Gas and LNG reserves of Argentina.

India wants to expand in Pharma, Healthtech and IT sector in Argentina. Photo: Pixabay

Preparations to increase partnership in these areas also

India now wants to increase its exports to Argentina in areas like Pharma, Healthtech and IT. At the same time, Argentina's Indian fighter aircraft Tejas is interested in many defense products. During the visit of Prime Minister Modi, there is also a possibility of discussion on joint training, joint production and technology transfer of these products. These two countries are also increasing mutual cooperation in telemedicine, digital governance and space sector. India's space agency ISRO and Argentina's space agency have also been supported earlier.

India supported at the time of Pahalgam attack

Strategic partnership between India and Argentina is better. Argentina supported India at the time of Pahalgam terror attack and condemned this attack. Along with this, both these countries emphasize peaceful nuclear programs and cooperation in energy. Not only this, Argentina has been supporting India's claim of membership in the Nuclear Suppliers Group (NSG). India has applied for its membership in the year 2016.

Argentina gives all these things to the world

The second largest shell gas reserves in the world in Argentina, which it provides to many countries. Apart from this, there is the fourth largest unconventional oil resource in the world. Shell gas reserves are mainly in the Waka Muirta region of Argentina. Apart from this, many other important minerals like copper, silver and gold are also found in Argentina.