India's external affairs minister, Salman Khurshid, earlier this month made a three-day visit to Chile and Argentina in an effort to strengthen economic ties. Where do trade and commercial ties between India and the Southern Cone stand today? What do India and these countries have to gain from each other? Which industries are most ripe for increased cooperation?

Jahangir Aziz, India chief economist at J.P. Morgan: "Trade between India and Latin America remains well below its potential despite an increase in recent years. While transportation costs and the lack of familiarity with each other's markets were previously cited as the big...

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