India will hold talks with a newly formed grouping of nations comprising 33 countries of Latin America and the Caribbean region at New Delhi on August 07, 2012 with an aim to enhance ties in diverse industrial sectors including exploration of hydrocarbons and minerals.
The external affairs minister of India S. M. Krishna will lead the Indian delegation while the Community of Latin America and Caribbean States (CELAC) will be led by Mr. Alfredo Moreno Charme, the Chilean counterpart of Mr. Krishna.
The foreign minister of Venezuela Nicolas Maduro and the deputy foreign minister of Cuba Rogelio Sierra will also participate in the first India – CELAC foreign ministers meeting.
India’s trade with the region was over US$ 25 billion in year 2011 and cumulative investments in the region are estimated to be US$ 16 billion.