Seventeen Indian dyes and chemicals companies will visit Buenos Aires for a trade mission, attending a business round on October 2.

Organized by the Argentine Council for the Promotion of Exporting Basic Chemicals, Cosmetics, and Dyes with support from the Indian Embassy in Buenos Aires, the delegation’s visit follows the August announcement that Argentina would formally join the BRICS bloc. 

“[The visit] will continue to strengthen bilateral relations between India and Argentina, especially in the dyes and chemicals sector,” said Raghuveer Kini, director of Chemexcil, the export promotion company leading the delegation, according to a press release. “There are good opportunities to explore business in the cosmetics and toiletries sector.”

India is Argentina’s fifth largest trading partner with exports reaching US$4.6 billion and imports totaling US$1.8 billion in 2022. In 2022, bilateral trade reached a record US$6.3 billion following a 72% year-on-year increase between 2021 and 2020, when it totaled US$5.7 billion.

The companies involved are producers of organic and inorganic chemicals with widespread industrial applications in industries including textiles, pharmaceuticals, agrochemicals, plastics, toys, cosmetics, and beauty.

“I am pleased to welcome the main Indian companies in the basic chemicals, cosmetics, dyes, and pigments sector, coordinated by Chemexcil,” said Ambassador of India to Argentina Dinesh Bhatia. 

“This sector has the potential to generate important business between India and Argentina and thus deepen bilateral trade ties. I would like to invite Argentine companies to take advantage of this visit at the business meeting on October 2.”

The most recent bilateral trade mission was in March this year, when a delegation of Argentine companies traveled to India and Bangladesh. Over the course of the visit, over  500 meetings took place between companies in the pharmaceutical and food sectors.

The October 2 meeting will take place at the Sheraton Hotel in Buenos Aires.

The BRICS is a bloc that focuses on boosting economic and trade cooperation between member countries, which until now included Brazil, Russia, India, China, and South Africa. The term “BRIC” arose in 2001 to describe emerging economies with the potential to take protagonism in the global market. South Africa was added in 2010.

President Alberto Fernández announced that Argentina would be joining the alliance in January 2024, alongside Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. Presidential frontrunners Javier Milei and Patricia Bullrich have both indicated on the campaign trail that they would not join the bloc.

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