Executive Briefings

India Initiates Movement for Direct Sea, Air Connections to Latin America

India's Ministry of External Affairs (MEA) is moving to set up a direct sea and air link between India and Latin America, as Indian corporations line up significant investments in the oil, mining, IT and pharmaceutical sectors there.

Dammu Ravi, the MEA's joint secretary for Latin America and the Caribbean), said, "Air India plans to begin a straight twice-a-week service between India and Panama by next year. This will open up access for Indians to the entire Latin American country.

"Absence of a straight sea link is also a bottleneck in the growth of trade between the two regions, as it presently takes about 45 days for a vessel from India to reach that part of the world. Ships presently go through different transshipment ports in Europe to reach that county. If there is a direct sea lane, the time could be reduced to 30 days," he said.

India aims to double the trade with 33 countries in Latin America from the present level of $30bn in the next five  years. The Latin American nations recently formed a single trade entity, looking for increased bilateral trade and technological cooperation with India.

Source: TransReporter

Dammu Ravi, the MEA's joint secretary for Latin America and the Caribbean), said, "Air India plans to begin a straight twice-a-week service between India and Panama by next year. This will open up access for Indians to the entire Latin American country.

"Absence of a straight sea link is also a bottleneck in the growth of trade between the two regions, as it presently takes about 45 days for a vessel from India to reach that part of the world. Ships presently go through different transshipment ports in Europe to reach that county. If there is a direct sea lane, the time could be reduced to 30 days," he said.

India aims to double the trade with 33 countries in Latin America from the present level of $30bn in the next five  years. The Latin American nations recently formed a single trade entity, looking for increased bilateral trade and technological cooperation with India.

Source: TransReporter