In 2019, during Argentine President Mauricio Macri's state visit to Delhi, the two countries agreed to boost cooperation in the nuclear energy sector with the signing of an MoU.
With the bilateral trade between India and Argentina doubling for the first time in ten years, the South American nation’s state-owned company INVAP is in the last phase of development of the Fission Molly Project, a molybdenum plant being built in Mumbai. This plant focuses on creating isotopes. Some of the components being used in the Indian power reactors are being manufactured by the same company.
Daniel Chuburu, the outgoing ambassador of Argentina in India told Financial Express Online in a recent interaction, “The state-owned INVAP has designed and built research and radioisotope production reactors worldwide and is eager to continue working side by side with India.”
“Devoted to the design and construction of complex technological systems, the company has more than 40 years of history both in the domestic market and in more than twenty in the international scene. It mainly focuses in the areas of Nuclear, Aerospace, Government & Defense and Industrial and Medical Equipment,” the envoy said.
According to Ambassador Chuburu, “Since both countries have decided to elevate their multi-faceted cooperation to a Strategic Partnership with a focus on key areas like Defence, Pacific Use of Nuclear Energy, Outer Space, Energy & Mining and Agricultural Cooperation, during last year bilateral trade between the two countries reached its historical maximum.”
“Operations between the two countries has totalled $ 3.09 billion, an amount never seen before. This also means that bilateral trade doubled in ten years. For our country, India is the seventh largest partner and there is a shared interest to increase cooperation in the area of technology, especially in the nuclear energy and radar sectors, where Argentina has demonstrated ample experience at the international level,” the outgoing envoy added.
Recently the Indian government had launched an economic stimulus package for the country in the framework of COVID-19. In the Fourth Tranche of the package, called New Horizons of Growth, plans were announced to develop a nuclear research reactor for medical manufacturers, under the modality of public-private partnership (PPP). This is expected to promote the well-being of humanity through accessible treatment for cancer and other diseases in India and neighbouring countries.
How is this important for India and Argentina?
The main objective is to link India’s robust ecosystem of start-ups with the nuclear sector. Technology Development-cum-Incubation Centres will be set up to nurture and encourage collaboration between research facilities and tech-entrepreneurs.
“This would constitute a great opportunity to strengthen the bonds with those countries that have wide experience in the field and share a Strategic Partnership with India,” he added.
India-Argentina Nuclear Cooperation
In 2019, during Argentine President Mauricio Macri’s state visit to Delhi, the two countries agreed to boost cooperation in the nuclear energy sector with the signing of an MoU between India’s Global Centre for Nuclear Energy Partnership and Argentina’s National Atomic Energy Commission.