Los Grobo in the Media

October 15, 2020
Business council launched to export more to India
The purpose is to diversify sales concentrated in few products derived from soybeans.

The rise of the Asian middle class makes the most populous countries of that continent as potential buyers of food, services and industrial products. The Argentine government and companies have been keeping an eye on these markets to expand exports. In this framework, with the presence of the Minister of Productive Development, Matías Kulfas and the Indian Ambassador to Argentina, Dinesh Bhatia, the India-Argentina Business Council was launched yesterday, made up of 26 companies and chambers from both countries.

Gustavo Idígoras, head of the Chamber of the Oil Industry of the Argentine Republic, were also present at the conference held at the headquarters of the Indian embassy in Argentina; Gustavo Grobocopatel, president of Los Grobo; and Daniel Pelegrina, president of the Sociedad Rural Argentina. There are currently 26 companies and chambers that make up the Council, among which, in addition to those already mentioned, are the Argentine Industrial Union, the Argentine Chamber of Commerce and Services, Globant, Techint, INVAP, IMPSA, OLX, Glenmar Pharma, among other.

“India has the potential to be an important investment partner for Argentina. Our country's exports are too concentrated in few products derived from soybeans, we have to go towards greater diversification ”, said Kulfas. At the same time, he stressed that "the number of middle class households will increase by more than 60% in the next fifteen years and this offers" enormous potential "for Argentine agribusiness products such as wine, healthy and organic products; seeds and biotechnology.

A report on world economic perspectives from the Foreign Ministry's Center for International Economics, accessed by Ámbito, reveals that an average growth of 8% per year is anticipated for India. As a result of this impulse, 140 million people will join the middle class and 21 million into the upper class, so that people with middle income will go from representing 30% of consumption to 47% and those with high incomes 7% at 14%.

The document also shows that the portfolio led by Felipe Solá intends to increase exports in food, agricultural manufactures, industrial goods, fuels and services. Some of the products that the survey specifies with greater emphasis are: wines, cocoa-based preparations, cereals, baby foods, bakery products, dairy products, frozen desserts, canned fruits, vegetables, almonds and apples, they are

"The composition of trade is in favor of Argentina, bilateral exchange reached 2,120 million dollars in the first 8 months of the year, there was a growth of 7% compared to the same period last year," said Ambassador Dinesh Bhatia. At the same time he stressed: “The economic council is an initiative of my embassy and the companies were in charge of the foundation. It has a diverse composition that will serve to advise the private sector and coordinate actions between both governments. We are working with short and long-term objectives in order to exploit the true potential of the bilateral relationship ”.

The diversity of firms present and also among the sectors that make up the new dialogue table shows the growing interest of the private sector to disembark with greater force in India. On the other hand, the Asian giant needs to guarantee the supply of strategic products to continue its expansion. One of the businessmen present described the relationship as "win-win."

Automatic translation from spanish.

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