Modi, Paraguayan President Santiago Peña pledge to deepen trade, tech ties

New Delhi, Jun 2: Prime Minister Narendra Modi met visiting Paraguayan President Santiago Peña in Delhi on Monday, hailing the South American country as a valued partner and pledging to deepen cooperation across key sectors, including digital technology, critical minerals, energy and agriculture.

In their first bilateral summit-level meeting, Modi called the visit “historic” and said the two nations shared democratic values and a commitment to global development. He underlined potential for expanding India’s trade footprint in Latin America through stronger engagement with Paraguay and the MERCOSUR bloc.

The two sides discussed enhancing trade linkages, working together in health and space technology, and combating terrorism and transnational crime. “Our talks covered diverse subjects, prime among which was close economic cooperation,” Modi said in a post on X.

Peña’s visit marks only the second time a Paraguayan president has visited India. His delegation also includes ministers and business leaders, with scheduled stops in Mumbai to explore commercial partnerships.

Paraguay, which recently became a founding member of the Global Biofuels Alliance and the 100th member of the International Solar Alliance, has emerged as a key energy and strategic minerals partner for India. Bilateral trade in 2024–25 stood at $168 million, with India exporting pharmaceuticals, auto parts and vehicles, while importing soya oil and metals. Paraguay had earlier condemned the April 22 terrorist attack in Pahalgam, reaffirming solidarity with India—an alignment Modi said extended to global security issues like cybercrime and drug trafficking. Officials said the visit would add momentum to India-Latin America ties and help anchor New Delhi’s engagement with the Global South.