Spanish Speaking Countries
This region is undergoing an extraordinary economic boom and there are enormous opportunities for Indian companies in many different sectors. Pharmaceutical industry is well established in Latin America and India is becoming an investor in fields like locomotion, aviation, medical and scientific instruments, machinery and others.
As India progresses into a country with global aspirations we need to upgrade our foreign policies and develop a profound understanding of the importance of foreign languages.
India’s trade with Latin America has gone up to US $ 23 billion in 2010 from US $ 2.6 billion in 2001. The current figure is US $ 75 billion in 2016. Indian exports to the region increased from 1.5 billion dollars in 2001 to 9 billion in 2010 and imports went up to US $ 14 billion in 2010 from 1.1 billion in 2001.
India and Latin America and the Caribbean, together with China, are the world's new growth poles. Economies in developing Asia, led by China and India, are growing three times as fast as the industrialized countries.
Foreign Direct Investment (FDI) in Latin America in 2015 was 172 billion dollars, according to June 2016 report of ECLAC.