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To be a “leading power,” India is going to have to become significantly more influential in Latin America, Indian External Affairs Minister S. Jaishankar asserted in a speech on Wednesday in which he revealed New Delhi’s plans to greatly enhance commercial and geopolitical ties to the region.
Growing Indian influence in Latin America would be a direct challenge to communist China, which has invested heavily in making Latin America’s largest economies dependent on its manufacturing and agricultural imports and in propping up the region’s bloodiest dictatorships, all of which are ideologically aligned with Beijing. The Chinese Communist Party has helped both the dictatorships of Venezuela and Cuba avoid total economic collapse, become Brazil’s largest trade partner (even under self-proclaimed conservative former President Jair Bolsonaro), and made significant moves towards dominating Chile’s lucrative mineral industry.
The Indian government had long expressed little interest in becoming a major influence in the Western Hemisphere prior to Prime Minister Narendra Modi’s term in office. In the last two years, however, Jaishankar has increasingly described Latin America as important to India’s interests. Jaishankar also visited Brazil, Argentina, and Paraguay last year, the first time an Indian external affairs minister had visited the region outside of summit attendances since 2003.
In his remarks on Wednesday, at a conference titled “Connected Histories, Shared Present” in India, Jaishankar boasted that Indian trade volume with Latin America had increased to over $50 billion and the Modi government intended to keep it growing.
Addressed the valedictory session of the international conference: “Connected Histories,Shared Present” at India International Centre.
Impressed to hear the many cross-cultural experiences between Latin America, the Caribbean and India that were shared here. pic.twitter.com/abcIHPkDqM
Dr. S. Jaishankar (@DrSJaishankar) February 22, 2023
“Many of you would also be aware that over the years, we have actually done a lot of development partnerships abroad. Obviously, all these are with developing countries. Most of them are, of course, just in terms of numbers and value in our immediate vicinity,” he explained, according to the Times of India. “But even already where Latin America and Caribbean is concerned, we have 40 lines of credit and roughly our commitment is about 900 million dollars in these projects.”
“I want to just emphasize, you know, we have a goal of moving India towards becoming a leading power,” Jaishankar declared.
