Indore, Jun 6 (PTI) Madhya Pradesh Chief Minister Mohan Yadav on Saturday pitched for strengthening trade and investment ties with Latin American and Caribbean countries, saying the state's exports to the region rose 19 per cent to Rs 3,835 crore in 2025-26.

He said there was substantial scope for bilateral cooperation in sectors such as pharmaceuticals, agriculture and food processing, information technology, biotechnology, energy, mining, logistics, manufacturing and tourism.

Inaugurating the 'India-Latin America and the Caribbean Countries Trade and Investment Forum 2026' in Indore, Yadav said India was rapidly emerging as an economic powerhouse under the leadership of Prime Minister Narendra Modi and Madhya Pradesh was playing a leading role in this growth journey.

"Geographical distances notwithstanding, India and Latin American and Caribbean countries shared common cultural values, respect for nature, folk traditions, music and several aspects of social life. These similarities can become a strong foundation for future bilateral cooperation," he said.

The CM said Madhya Pradesh currently exports goods worth around Rs 70,000 crore annually across the globe and his government was committed to raising the figure to Rs 1 lakh crore by December 2028.

He urged stakeholders to tap the vast opportunities available for partnership in key sectors and expand economic engagement between Madhya Pradesh and countries of the region.

Speaking at the inaugural session, Uruguay's Ambassador to India Alberto Antonio Guani Amarilla said the vision outlined by Prime Minister Modi for achieving the goal of a developed India by 2047 was reflected in Madhya Pradesh's achievements.

He expressed confidence that states such as Madhya Pradesh would further strengthen India's trade ties with Latin American and Caribbean countries and create new opportunities for investment and industrial cooperation.

Amarilla said efforts were underway to improve connectivity between India and countries in the region through maritime routes to facilitate faster movement of goods.

Around 300 participants, including diplomatic representatives from 15 countries such as Uruguay, Cuba, El Salvador, Panama, Guyana, Guatemala, Peru and Mexico, as well as exporters from Madhya Pradesh, attended the conference.

During the event, the state government showcased investment opportunities, industrial infrastructure and export potential across multiple sectors.

The government also proposed measures to strengthen export infrastructure cooperation with Latin American and Caribbean countries.

These include setting up export facilitation centres, quality testing and certification facilities, upgrading export hubs, enhancing buyer-seller linkages, improving export finance and risk coverage mechanisms, and promoting skill development for exporters. PTI HWP LAL BNM

Trade and investment cooperation with Latin American and Caribbean countries expands through export facilitation, infrastructure upgrades and sectoral partnerships. Madhya Pradesh urged stronger trade and investment engagement with Latin American and Caribbean countries, highlighting rising exports and broad scope for bilateral cooperation in sectors such as pharmaceuticals, agriculture and food processing, information technology, biotechnology, energy, mining, logistics, manufacturing and tourism. The state government also proposed export infrastructure measures, including export facilitation centres, quality testing and certification facilities, upgraded export hubs, stronger buyer-seller linkages, improved export finance and risk coverage mechanisms, and skill development for exporters.