The International conference” India and Latin America and the Caribbean strenghthening the Partnership¨ was hosted today by the the Deputy Director Ajaneesh Kumar , organized by the members of the Diplomatic Mission in Brazil and the Ambassador Ashok Das, The ambassador was responsable for the division of Latin Amertica and Caribbean in the Indian Ministery of Foreigner affairs, in New Dehli. The Conference today is an opportunity to get new ideas and share many experiencias in inovation areas sucha as science, technology, defense, bilateral bussines and cultural affairs that involve both countries.
India and Latin America and the Caribbean, are the world’s new growth poles. Economies are growing three times as fast as the industrialized countries. In the coming years, the industrialized economies will continue to face complex challenges, in particular the need to rein in and gradually reduce the fiscal deficit and public debt in a context of slower growth and high unemployment. The rise of the emerging economies reflects not only their growing contribution to the world economy, but also the stronger linkages between emerging and developing economies through increased South-South trade and investment and cooperation. In this context, India continues to deepen its trade and investment relations with the Latin American and Caribbean region in search of a more coordinated, institutionalized approach among countries.
On the back of recent global economic events, India and the countries of Latin America and the Caribbean must rethink strategic alliances both globally and regionally. In this respect, India and Latin America and the Caribbean need to reposition themselves in the world economy and to address the growing relevance of South-South linkages (in areas such as trade, foreign direct investment and finance) by enhancing cooperation in innovation and human capital in order to diversify trade, add greater value and apply new knowledge to exports, thus helping to create more stable conditions for growth.Latin America’s resilience during the international financial crisis and its recent strong recovery have aroused India’s interest in the region, while countries in the region have shown a renewed enthusiasm for learning about the Indian economy as a future trade and investment partner. Indeed, the region’s trade with India will continue to grow rapidly, though from a small base, while an increasing number of Indian companies have begun to invest and operate in the region.Despite recent improvements on many fronts, however, both India and the countries of Latin America and the Caribbean face some formidable challenges. They still have some of the highest inequality indices in the world, as well as serious deficiencies in infrastructure, technology, innovation and competitiveness. India and the Latin American and Caribbean region, together with their main partners, could approach these challenges as opportunities to forge new partnerships to promote growth and development through increased trade and investment. India could be an active partner of the region in this endeavour.Increasing trade between Latin America and the Caribbean .