There is no doubt that the increased demand from Asia-mostly from China and Indias rapid and continuous development has given the region new momentum. India is now in a expanding mode of economic presence from the Caribbean to Uruguay and its interests are remarkably diverse. Which is still a long way behind the $150 billion in Chinese- Latin American trade but that gap will likely continue to narrow in the coming years ahead. More than 50% of them consist of raw materials and intermediate goods such as bulk drugs, yarn, fabrics, and parts for machinery and equipment which will help the growing Latin American industries to cut production costs and become globally competitive. The number of LAC missions based in New Delhi increased from 12 in 2002 to 18 in 2009 and Indias missions in this region doubled from seven to fourteen. In Trinidad and Tobago, Essar Steel is in the process of establishing a 2.
Indians thought of Latin American nations as unstable and plagued by coups, earthquakes and high inflation. So it is crystal clear that what India and Latin America has not got in centuries in the field of economy they are going to catch it together in coming decades. And this situation suddenly changed when we saw that in the first decade of 21st century alone, there it reached up to 10. In 2003 - 2008, Latin America had its best economic performance in three decades, with an average annual growth rate of 5 percent, in which the boom in commodity prices have major portion.5 million-ton steel plant. Earlier New Delhi was traditionally seen by Latin diplomats as a "third-world backwater," Now New Delhi metamorphosed and developed itself and now seen as the capital of the global south. In the early decades of twentieth century, Indian poet Rabindra nath Tagores verses influenced very much Chilean poet Pablo Neruda. Bangalore has become a most important destination for Latin American delegations visiting the Indian subcontinent. But some peoples have noticed the change.
India was a member of the British Commonwealth and a founding member of the Non-Aligned Movement NAM and in both there was no significant Latin American presence. In the first 50 years of Indian independence, there were only 12 presidential or head of state visited from Latin America to India. Whereas Latin Americans were shocked by Indias deep rooted poverty and internal conflicts. Although it shares a number of features with its sister "Asian giant," it offers a somewhat different menu Custom Viscose Filament Yarn Manufacturers of alternatives. A preferential trade agreement PTA between India and Chile went into effect in 2007, and another between India and Mercosur followed in 2009. After opening of the Indian and Latin American economies in the 1990s scene began to change. when Standard &38 Poors has declared that coming decades will be seen as Latin American decade and some have forecast that Indias growth rate will soon overtake Chinas, present and potential synergies between India and the region should not be underestimated.
In 1997, six years after India instituted a series of reforms that liberalized its economy it launched the -FOCUS LAC program in partnership with the private sector to encourage business to expand to Latin America and the Caribbean region.In literary and academic circles, obstacles abounded. When it comes to real obstacles of geographic and cultural distance, the modern technologys ability to shrink time and space can help overcome them. He even published a memoir of his time there, Vislumbres de la India in 1990. In 2010, the Inter-American Development Bank IDB issued a report entitled "India: Latin Americas next big thing?" followed by a similarly bullish report by the Sistema Economico Latinoamericano y del Caribe SELA. During that time Considerable geographic distance was seen as a major obstacle for trade and tourism. Neruda visited India four times. In the Latin economy side, many companies are unaware that, to take full advantage of the growing Indian market, they need to tailor production to specificities And for the Indian side, many companies are busy with their internal market they still do not focus sufficiently on Latin America. Mexican writer Octavio Paz, who was posted to New Delhi as a young diplomat in the 1950s and returned as an ambassador in the 1960s, was very much impressed by the depth and breadth of Indian civilization.When India got its independence in 1947, the picture was not as it is at this time. He mentioned about this fact in his book as- "around the body with supernatural grace, covering them in a single flame as shining silk While so much attention has been paid to Chinas role in the Americas, the growing Indo-Latin American ties have been largely ignored not only by press the rest of the world too.
