India has been talking about Lithium investment in Latin America and has been sending delegations to the region in the last several years but so far without any outcome. In contrast, China has already invested $4.5 billion in Lithiun production in the Lithium Triangle countries of Argentina, Bolivia, and Chile as well as Mexico.
India has given less than half a billion dollars of credit to Latin America. But China has given an impressive 137 billion dollars of credit to Latin American governments.
China’s trade with Latin America was $450 billion in 2021 and it is predicted that it could reach 700 billion by 2035. China is currently South America’s top trading partner and the second-largest for Latin America as a whole. India’s trade with Latin America in 2021 should be around 44 billion dollars. This could reach 100 billion by 2030.
China has signed FTAs with Chile, Peru and Costa Rica, and negotiating one with Panama. India has PTA with Chile and Mercosur. India needs to sign FTA/PTA with Mexico, Colombia and Peru.
China has invested 110 billion dollars in the region. India’s investment is around 10 billion.
China is a voting member of the Inter-American Development Bank and the Caribbean Development Bank. Chinese companies get contracts through these membership. India should also become member of these regional banks.
Chinese banks and insurance companies have opened branches in Latin America and help the growth of Chinese firms operating in the region. No Indian bank has branch in the region.
India does not have embassies in Bolivia, Ecuador, Uruguay, Costa Rica, Honduras, El Salvador and Nicaragua. China has embassies in all the countries except the few who recognize Taiwan.
Every Chinese ambassador and diplomat posted in the region speaks Spanish or Portuguese, while very few Indian diplomats speak the local languages.
China has over 60 Latin America study centres but India has just four. Around 80 Chinese universities have Spanish language departments while less than six Indian universities offer Spanish courses.
India has given less than half a billion dollars of credit to Latin America. But China has given an impressive 137 billion dollars of credit to Latin American governments.
China’s trade with Latin America was $450 billion in 2021 and it is predicted that it could reach 700 billion by 2035. China is currently South America’s top trading partner and the second-largest for Latin America as a whole. India’s trade with Latin America in 2021 should be around 44 billion dollars. This could reach 100 billion by 2030.
China has invested 110 billion dollars in the region. India’s investment is around 10 billion.
China is a voting member of the Inter-American Development Bank and the Caribbean Development Bank. Chinese companies get contracts through these membership. India should also become member of these regional banks.
Chinese banks and insurance companies have opened branches in Latin America and help the growth of Chinese firms operating in the region. No Indian bank has branch in the region.
India does not have embassies in Bolivia, Ecuador, Uruguay, Costa Rica, Honduras, El Salvador and Nicaragua. China has embassies in all the countries except the few who recognize Taiwan.
Every Chinese ambassador and diplomat posted in the region speaks Spanish or Portuguese, while very few Indian diplomats speak the local languages.
China has over 60 Latin America study centres but India has just four. Around 80 Chinese universities have Spanish language departments while less than six Indian universities offer Spanish courses.
The Chinese hold annual meetings of Academic Forum and Think Tanks Forum besides several other forum meetings. India has not established such channels for exchanges.
China- Latin America Forum and China-Latin America Business Summit are held every year in large scale with systematic planning and activities. India-CELAC Forum and India-LAC Business summit are dormant.
China has opened 39 Confucius Institutes in Latin America. There are more than 100,000 Latin American students enrolled in the Chinese language and culture programs of the Institute. India has 3 cultural centres in the region and very few Latin American students in India.
Chinese President, Prime Minister and Foreign ministers make regular visits to Latin America every year and hosts the visit of Latin American heads of states and governments. India has occasional visits.
President Xi Jinping has visited the region eleven times since he took office in 2013. But the Indian Prime Minister has visited just twice.
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