A surge in Indian exports to its Latin American counterparts, post-pandemic, would suggest a renewed push in trade ties between these regions. As of February 2023, Indian exports to the region have crossed $16 billion and are likely to be the highest in a decade in FY23.
With close to $15 billion in exports to the 43 countries in Latin America (according to the commerce ministry, which has Caribbean nations) in 2021-22, India’s merchandise exports had recorded a 67 per cent jump since 2018-19.
Though India’s imports from the region outstrip its exports, data indicates that the trade deficit is narrower than it was before the pandemic.
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