Region:
BRICS
Category:
Economy
Article type:
Opinion

The awakening of the Indian economy is a great opportunity for Argentina

Region:
BRICS
Category:
Economy
Article type:
Opinion
Author/s:
By Dr. Christian W. Meniw
Publication date:
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Thanks to the great work of the Ambassador of India, Mr. Amarendra Kathua, relations with Argentina are at their best. Since his arrival, trade between India and Argentina in 2013 increased 30% to U.S. $ 1,838 million

India is experiencing what economists call "feel-good-factor", a moment of brilliance and economic glow. Much of this growth is attributed to the agricultural sector and the good results after the last monsoon. Agriculture in India accounts for over 50% of the source of economic livelihood. These data have to add an inflation rate of 4%, a low level of external debt (100,000 million) featuring an external stability, and a low interest rates have encouraged the boom in the construction sector and the growth of an emerging middle class of about 350 million.

Economic development is also causing havoc in the energy sector in the same way as in other emerging countries in Asia-Pacific. Industrial growth rate of demand unsustainable energy production with existing infrastructures. For this reason, the sector is opening up to foreign firms, and begins to loom as one of the potential markets for European, Latin American and African companies.

At the forefront of technological development

The technology sector is one of the economic engines of India. Major universities and linked to this industry institutes are located in Pune city, located about 250 miles from the business center of Mumbai, in the state of Maharashtra, where they are trained in technical studies each year 169,000 people, and other 47,000 engineers graduating annually in college. Pune is considered the "factory" of India. There is the largest manufacturing industry. The automobile industry, the biotech industry, engineering, chemical or floricultural industry coexist with financial and insurance companies in a city that contributes more than 50% of the total tax India.

Pune is also assured as Ajay Mehta, President of the Chamber of Commerce of the city, "the cradle of new technologies." Welcomes to home design industry microchips and software development in its seven science parks located throughout the city. In 2003, Pune exported more than 1 billion dollars in software applications. According to Mehta, "Our engineers have been able to develop advanced 3D applications that are basically used by the automotive and aerospace. Boeing and Airbus are some of our customers. "

To illustrate the development of this city, suffice to say that only in the banking sector Pune has a flow rate of 80 Mbps connectivity bandwidth, which plans to expand to 140 Mbps as completed construction there planned to accommodate some of the most important technology fairs internationally.

Its current relationship with Argentina

Thanks to the great work of the Ambassador of India, Mr. Amarendra Kathua, relations with Argentina are at their best. Since his arrival, trade between India and Argentina in 2013 increased 30% to U.S. $ 1,838 million averaging the bilateral balance in 2012, with surplus for Argentina soybean oil, the great Indian buyers being dropped when the Chinese purchase.

Mr. Ambassador has traveled province by province to promote more trade, tourism and investment; parallel has led business delegations to India, and now is preparing one of the largest delegations to attend the event to be organized by FICCI called LAC Investment Conclave to be held on 16 and 17 October this year. Together, the Chamber of Commerce Indo Argentina newly created in March in Punjab and works in Buenos Aires and in the not too distant future will have other offices in other parts of India, is planning India's first delegation to come to this country year. All this leads to the conclusion that it is increasingly important that Argentina put the eye on the world's third largest economy, taking into account all the factors described above and all the development that has been generated so far.

traslation: Belén Zapata