The other major destinations were:
- Mexico: $3.08 billion
- Colombia: $865 million
- Chile: $805 million
- Peru: $765 million
- Argentina: $688 million
- Venezuela: $557 million
Major exports:
- Vehicles: $2,608 million
- Chemicals: $2,534 million
- Pharma: $1,196 million
- Machinery: $1,152 million
- Diesel: $1,034 million
- Textiles: $704 million
- Cotton: $417 million
- Plastics: $421 million
- Iron and steel: $599 million
- Aluminium products: $393 million
- Rubber products: $254 million
Car exports
Latin America accounted for 30.5 per cent ($1.3 billion) of India’s global car exports of $4.3 billion. Mexico was the largest global market for Indian cars with $860 million in value of shipments. The US was second with $512 million. Other major destinations were Chile ($201 million) and Peru ($86 million).
Motorcycles
India was the second-largest supplier of motorcycles to Latin America with $577 million in shipments. This is 28 per cent of India’s global exports, valued at $2 billion.
Major destinations were Colombia ($190 million), Mexico ($90 million), Guatemala ($84 million) and Peru ($53 million). Colombia was the third-largest global market for Indian motorcycles after Nigeria and Nepal. Some years back, Colombia was the number 1 destination. Indian brands are market leaders in Colombia and Guatemala. Hero Motors has invested $80 million in a production plant in Cali, Colombia.
Pharmaceuticals
India is the fifth-largest supplier of pharmaceuticals to Latin America. Major destinations of India’s pharma exports were Brazil ($317 million), Peru ($128 million), Chile ($123 million), Mexico ($114 million), Colombia ($68 million), Dominican Republic ($54 million), Venezuela ($51 million), Guatemala ($48 million), Bolivia ($29 million) and Ecuador ($28 million).
Market
There is potential for India to increase its exports to about $20 billion in the next five years. At this time of austerity, Latin Americans look for affordable products from less-expensive sources. Although China fits this expectation, the Latin Americans seek to reduce their overdependence on China with which there is a growing trust deficit especially after the coronavirus, which originated from Wuhan.
From EDANDO, the only B2B portal between India and Spanish-speaking countries, we offer you all kinds of services both for Importing from India and Exporting to this immense and great country.
