India's trade with LAC touches $50 billion

INDIA and Latin America Carribean (LAC) have clocked an impressive growth in bilateral trade worth $50 billion in the financial year 2022-23.

- YESHI SELI

"The increase in trade is a testament to both the strength and potential of our economic partnership. It is worth noting, that India's exports to Brazil for example, stands at $10 billion, which is almost twice of actually what we export to Japan. Similarly, our exports to Mexico is in excess of $5 billion, which is actually more than our exports to Canada. With the Dominican Republic, our exports last year were $329 million, and there are some Asian countries which still haven't come to that level," said External Affairs Minister J Jaishankar speaking at the 9th India LAC Conclave, which was attended by 17 representatives from 11 countries from LAC.

He further said the target was to double the trade to reach $100 billion by 2027.