New Delhi is in talks with Argentina and Brazil to sign trade agreements with the two largest markets in South America as it aims to strengthen commerce with the region.
India already has a preferential trade agreement (PTA) with Mercosur, a trading bloc of Argentina, Brazil, Paraguay and Uruguay, which was set up in 1991 to facilitate the free movement of goods, services and capital. Officials, however, say the bloc’s internal issues have flagged the need for bilateral agreements.
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