Two of the most dynamic economic regions in the world today are South Asia and Latin America. Trade between India and Latin America and the Caribbean (LAC) reached USD 25 billion in 2011 and is projected to reach USD 70 billion in 2015. The first Indo-LAC Dialogue took place in New Delhi last August.
What is the significance of these growing links? To what extent do they show a growing convergence between two regions so long separated by geography and history? And is the "First World – Third World" pattern of relations they replicate (in which India plays the role of the "First World" power, selling intermediate goods and industrial products and buying mostly commodities and natural resources) sustainable in the medium and long run?
Prof. Jorge Heine is researcher of the Balsillie School of International Affairs.
Dr. Sandra Destradi is researcher at the GIGA Institute of Asian Studies.
Dr. Bert Hoffmann is Acting Director of the GIGA Institute of Latin American Studies.