New Delhi: Argentina is pitching itself as a reliable supplier of lithium, copper, and oil and gas to India as New Delhi seeks to diversify supplies of critical minerals and reduce exposure to concentrated global supply chains.
Argentina, part of the “lithium triangle” with Bolivia and Chile, has emerged as a key destination for countries seeking supplies of the battery metal as China and other major economies race to secure resources needed for electric vehicles and the energy transition.
“As India advances towards Viksit Bharat 2047, it will require secure, diversified and predictable sources of critical minerals and energy, and that is precisely what Argentina offers: lithium, copper, and growing volumes of oil and gas, from a reliable partner that is far away from any major geopolitical conflict,” Argentina's ambassador to India Mariano Agustín Caucino said in an interview.
India’s crude petroleum imports from Argentina rose nearly 92% to $110 million in 2025-26 from $57.55 million a year earlier, according to commerce ministry data.
Argentina also sees an opportunity to reduce its dependence on China as a buyer of lithium, while India seeks to diversify its critical-mineral supply chains, which are heavily exposed to Chinese processing and refining.
"Every country wants that. And you are doing the same here. You are trying not to be so dependent on certain countries. Every country tries to do that, to diversify its provisions and its exports,” Caucino said.
The push for closer ties on lithium comes as India and Argentina broaden their economic relationship, which was elevated to a strategic partnership seven years ago. Argentina established an embassy in India in 1950, among the first Latin American countries to do so.
The relationship is increasingly driven by economic complementarities, with Argentina offering food, energy and mineral resources and India providing a large and growing market.
India was Argentina’s fifth-largest trading partner in 2025-26, with bilateral trade rising 25% to $5.96 billion from $4.75 billion in 2024-25, according to Indian government data.
India imported lithium oxides and hydroxides worth $8.36 million from Argentina in 2025-26, up from $1.1 million in 2024-25. India imported lithium worth $46.91 million in 2025-26, up 31% from $35.71 million in 2024-25.
"There are some Indian companies working there,” he said. “You have this program of developing the EV, the electric vehicles. And in order to develop that, you need batteries. And in order to get batteries, you need more lithium. And we have a huge reserve of lithium in the north of Argentina.”
KABIL investment
India has already begun establishing a foothold in Argentina’s lithium industry. In 2024, state-owned Khanij Bidesh India Ltd (KABIL) signed an agreement with Catamarca Minera Y Energetica Sociedad del Estado (CAMYEN SE), the mining and energy company owned by Argentina’s Catamarca province.
The project is estimated to cost about ₹200 crore, according to India’s ministry of mines. KABIL began exploration and development of five lithium-bearing brine blocks covering about 15,703 hectares in Catamarca: Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132 and Cortadera-VI.
KABIL has completed Phase II drilling at the project, while opportunities for further cooperation in the provinces of Salta and Jujuy are being explored, according to a 29 August statement from India’s commerce and industry ministry.
“Argentina welcomes Indian participation, both public and private, across its mining sector. Tenders and concessions are managed by each province (states) according to its own procedures, and several of them are actively seeking partners. At the national level, the Embassy's role is to facilitate contacts and make sure Indian companies are aware of the opportunities available, and we have found great interest to participate,” Caucino said.
Beyond extraction
Experts say India should expand its presence in South America's lithium value chain.
“Increased lithium cooperation with Argentina gives India a starting point in the extraction phase of the lithium value chain,” said Hari Seshasayee, visiting fellow Observer Research Foundation (ORF) and former advisor to Panama’s foreign minister.
“Indian companies stand to gain by investing in lithium extraction in Argentina, which has about 12% of the world's lithium reserves. Indian investment should be accompanied by deeper collaboration with Argentina or other international companies to engage in co-production, and create value-added products like batteries instead of intermediate products like lithium hydroxide or lithium bicarbonate, which eventually ends up being refined in China.”
Gopal Sarangi, associate professor at TERI School of Advanced Studies, said India’s push toward EVs and batteries makes securing lithium supplies increasingly important.
“The policy push and the target to have 30% EVs by 2030, requires definitive action plans and the imperative to address the strategic bottlenecks in acquiring the lithium. The increased lithium cooperation with Argentina is timely and much needed, as India’s domestic availability and supply of lithium is yet to be commercially proven, and India is fully dependent on imports,” said Sarangi.