India and Argentina to exchange young researchers and startups in biotechnology and agriculture
- In Reports
- 11:14 AM, Jul 25, 2023
- Myind Staff
According to recent reports, India and Argentina have reached an agreement for a bilateral exchange program, aimed at fostering collaboration between young researchers and startups in the fields of Biotechnology and Agriculture. The announcement was made during a meeting between Union Minister of State (Independent Charge) Science & Technology, Dr. Jitendra Singh, and the Governor of Santa Fe province, Argentina, Omar Angel Perotti, who led a high-level delegation.
The two nations have also decided to hold comprehensive talks involving academia, R&D institutes, and industries in the domains of Science & Technology and Biotechnology, as stated by the Minister.
During their meeting in New Delhi, Dr. Jitendra Singh and Argentina's Minister of Science, Technology, and Innovation, Mr. Daniel Filmus, jointly launched a new Indo-Argentina call for joint proposals on Energy Transition and Biotechnology on February 7, 2023. The call has received a significant response, with a total of 82 joint proposals currently under evaluation. Santa Fe Province alone has contributed 8 joint proposals, underscoring its strong position as a hub for R&D institutions in Biotechnology and Agricultural research, particularly in Soybean production and disease-resistant seed development.
The Indian delegation expressed interest in exploring collaborations in Geospatial technology, Quantum Computation, and Bio-Enzymes. India's vibrant startup ecosystem, ranked as the world's third-largest, offers immense potential for joint studies and collaborations across various levels, including institutions, universities, and multilateral forums.
It's worth noting that India and Argentina have a long-standing Intergovernmental Agreement, signed in 1985, aimed at promoting technical and scientific cooperation. The recent developments reaffirm the commitment to strengthen and expand ties between the scientific communities of both countries, facilitating exchanges between Indian and Argentine research groups through joint scientific and technological projects.
The Indian delegation included Secretary of the Department of Science & Technology (DST) & Department of Biotechnology (DBT), Dr. Rajesh S. Gokhale, and Director General of the Council of Scientific and Industrial Research (CSIR), Dr. N. Kalaiselvi. On the Argentine side, the delegation consisted of Presidents of two major Stock Exchanges in Santa Fe, Vice-Chancellors of three Universities in the province, and the Argentine Ambassador to India, Mr. Hugo Gobby.
The bilateral trade between India and Argentina has reached a historic peak, with USD 6.4 billion recorded in 2022, witnessing a growth rate of 12% from the previous year. Notably, India stands as the fourth-largest trading partner for Argentina. Major items of India's exports to Argentina include petroleum oils, agrochemicals, yarn-fabric-made ups, organic chemicals, bulk drugs, and two-wheelers. On the other hand, India's imports from Argentina primarily consist of vegetable oils (soybean and sunflower), finished leather, cereals, residual chemicals, allied products, and pulses.
The strong economic ties are further exemplified by the presence of numerous Indian companies in Argentina, with a total investment exceeding USD 1 billion. Similarly, Argentina's investment in India amounts to approximately USD 120 million. Some well-known Argentine companies operating in India include Globant and OLX in the IT services sector, along with TECHINT in the manufacturing industry.
In recent times, both countries have taken significant steps to enhance cooperation in various sectors. Notably, an assembly line of Royal Enfield bikes was inaugurated in Argentina by President Mr. Alberto Fernandez in 2020, marking the first instance of their manufacturing outside of their own plants.
Additionally, agreements promoting cooperation in the Oil and Energy sector have been signed between OVL Ltd and YPF (Argentina's Oil and Energy public sector company) in February 2023. In the defense sector, HAL and the Argentine Air Force have signed a commercial agreement for the supply of helicopter spares and engine maintenance, while cooperation with FAdeA (Argentina's public sector company in Aeronautics) was formalized in June 2023.
To facilitate and strengthen business ties, a bilateral business chamber, the India-Argentina Business Council (IABC), was established in October 2020. The Council, comprising leading investors, exporters, and importers from Argentina, currently boasts a membership of over 30 companies. In collaboration with India's Mission, IABC organized its first Business Forum in March 2021.
Moreover, Argentina is home to approximately 2,600 NRIs (Non-Resident Indians) and PIOs (Persons of Indian Origin), with the majority residing in the capital city of Buenos Aires. Many of them are professionals working for Indian companies or multinational corporations in the region.
As the bilateral exchange program unfolds, both India and Argentina look forward to deepening their collaboration in the fields of Biotechnology and Agriculture, fostering innovation and scientific advancements for mutual benefit.
Image source: PIB
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