PM Modi discusses cooperation in critical minerals with Argentina: MEA

Buenos Aires [Argentina], July 6 (ANI): Prime Minister Narendra Modi discussed cooperation in the energy and critical minerals sectors with Argentine President Javier Milei, underlining India's growing energy and industrial needs while emphasising that Buenos Aires can serve as a "reliable partner."

Addressing a briefing after the bilateral meeting between the two leaders, MEA's Secretary (East) P Kumaran emphasised that Argentina's rich reserves of critical minerals, such as lithium, copper, and rare earth elements, align with India's need for its clean energy transition and industrial growth.

"The two leaders also had an opportunity to discuss cooperation in the energy and critical mineral sectors. The Prime Minister underlined India's growing energy and industrial needs and emphasised that Argentina could serve as a reliable partner in supporting India's developmental journey," Kumaran said.

"Argentina's rich reserves of critical minerals, including lithium, copper and rare earth elements, align with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth," he added.

Kamaran also highlighted that Argentina, with its 2nd-largest shale gas and 4th-largest shale oil reserves, hold "strong potential to become "an important energy partner for India."

PM Modi, during the bilateral meeting, also highlighted India's strength in the healthcare and pharmaceutical sectors, offering Argentina to increase cooperation in the sector by moving India from Annexe II to Annexe I of Argentina's pharmaceutical regulatory framework to facilitate smoother entry of Indian pharmaceutical products into the Argentine market.

According to Argentina's pharmaceutical regulatory framework, countries are divided into two annexes. Countries on Annexe I usually have a smoother path into the Argentine market.

"Prime Minister highlighted India's strength in the healthcare and pharmaceutical sectors, particularly the capacity to produce high-quality, affordable medicines. He discussed the possibility of India being moved from Annexe II to Annexe I of Argentina's pharmaceutical regulatory framework, which would facilitate smoother entry of Indian pharmaceutical products into the Argentine market. The Argentine side updated the Indian delegation on the fast-track approval process available for the import of Indian medicines," P Kumaran said.

"The Indian side mentioned that this would significantly benefit the people of Argentina by improving access to affordable and life-saving medicine and reduce the cost of healthcare in Argentina," he added.

Argentina is the third leg of PM Modi's five-nation tour after Ghana, and Trinidad and Tobago. It will be followed by visits to Brazil for the 17th BRICS Summit and to Namibia. (ANI)

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