The government on Saturday said Argentina has agreed to reduce barriers in the <a href="https://www.mid-day.com/news/india-news/article/us-tariffs-on-india-no-additional-tariffs-by-us-on-indian-pharma-electronics-so-far-says-govt-23589207" target="_blank" rel="none noopener">pharmaceutical sector</a> to facilitate entry of Indian pharmaceutical companies and to provide them with greater opportunities, according to news agency PTI.
"Argentina has committed to work towards upgrading India from Annex II to Annex I under its pharmaceutical regulatory framework and reducing barriers to entry," the Ministry of Commerce and Industry said in a statement.
This was discussed during Commerce Secretary Rajesh Agarwal&rsquo;s visit to Buenos Aires for the India-Argentina Joint Trade Committee (JTC), which was held on August 24, 2026.
The move is also expected to improve the access to quality and affordable healthcare in Argentina, the statement said.
Building on the 2019 Memorandum of Understanding between Argentina's ANMAT (National Administration of Drugs, Food and Medical Technology) and India's CDSCO (Central Drugs Standard Control Organization), both sides committed to cooperation through joint initiatives in Ayurveda and Yoga, the statement said.
<h2>India and Argentina trade</h2>
Bilateral trade between India and Argentina crossed USD 6.5 billion in 2025, a growth of over 17 per cent.
&ldquo;India has emerged as Argentina&rsquo;s fifth-largest trading partner, highlighting the significant potential for further expansion and diversification of the bilateral trade basket,&rdquo; it said.
<h2>Strengthening economic ties</h2>
India and Argentina committed to deepen strategic and economic ties, and investment&nbsp; opportunities across mining, energy and infrastructure were discussed. It also highlighted the significant progress of India&rsquo;s KABIL in <a href="https://www.mid-day.com/news/world-news/video/pm-modi-in-argentina-grand-welcome-meets-lithium-diplomacy-1078778" target="_blank" rel="none noopener">Argentina&rsquo;s lithium sector</a>.
KABIL's mining activities in Catamarca, the first lithium mining initiative by an Indian company in Argentina, have progressed significantly with the completion of Phase II drilling, the statement said.
Besides, sectors such as aviation, space technology, telecommunications and digital services, were identified as emerging areas of cooperation, offering further opportunities for both countries, particularly in 5G, artificial intelligence and digital infrastructure.
<h2>India-Mercosur trade</h2>
<a href="https://www.mid-day.com/news/india-news/article/govt-launches-relief-scheme-with-rs-500-cr-to-help-indian-exporters-hit-by-west-asia-disruptions-23621622" target="_blank" rel="none noopener">The commerce secretary&rsquo;s </a>visit was also significant as India and Mercosur bloc are looking to expand the existing preferential trade agreement.
Mercosur is a trade bloc in Latin America comprising Brazil, Argentina, Uruguay, and Paraguay. The India-Mercosur PTA came into effect on June 1, 2009, as per PTI.
Progress on the Terms of Reference, along with the adoption of digital certificates of origin, is expected to facilitate trade and make cross-border commerce more efficient for businesses, it said.&nbsp;
(With inputs from PTI)

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Bilateral trade between India and Argentina crossed USD 6.5 billion in 2025, a growth of over 17 per cent

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