Name: Siddesh Sahani

Roll No.: 2010123

Country: Capital: Official Language: Currency: Population: Literacy: Government: President: GDP: HDI: Inflation: Cash Crop: Exports: Imports: Religion:

Uruguay Montevideo Spanish Uruguayan peso 3.3 million 98% Presidential republic Jos Mujica $49.423 billion 0.765 8.17% Palm Oil & Soyabean $ 6.7 billion $ 8.3 billion Roman Catholicism

Agreements 1. Agreement for the Avoidance of Double Taxation ( concluded in 2010) 2. Agreement for cooperation in renewable energy 2011 3. MOU establishing Joint Commission January 2007 4. MOU on Foreign Office Consultations- 1999 5. BIPPA (February 2008)

6. Agreement between the Uruguayan Diplomatic Academy and the Foreign Service Institute of the Ministry of External Affairs, Government of India- 1999 7. Agreement on long-term visa for businessmen- 1999 8. Agreement on Exemption of Visa for holders of Diplomatic and Official passports-1994 Indian Technical and Economic Cooperation (ITEC) India gives 3 ITEC scholarships to Uruguayan candidates every year. FSI Training Uruguayan diplomats attend training courses of Foreign Service Institute of India from time to time. The Government of India has announced (2008) that it would set up a IT training centre in Montevideo. This is under process. India Exports Chemicals, automobiles and auto parts, pharmaceuticals, garments and synthetic Fibres India Imports Wool, leather and wood. COMMERCIAL TIES BETWEEN INDIA AND URUGUAY Bilateral Trade
countries has increased considerably in recent years, in particular Indias sales to Uruguay. In 2010 Uruguays imports

Bilateral trade between the two

from India amounted to $50.2 million dollars, while exports to India reached $14 million Indias export basket to Uruguay is dominated by chemicals and pharmaceuticals. This is hardly surprising as in recent times, these two sectors have been making an increasing contribution to the total export earnings of the country. According to the Ministry of Commerce and Industry, exports of drugs, pharmaceuticals and fine chemicals from India have grown at a compounded annual growth rate of 17.8

per cent during the five-year period 2003-04 to 2007-08. And in 2008-09, exports have registered a 29% growth over the preceding years performance. Indian pharmaceutical companies are also looking at Latin America as a preferred destination for housing their formulation plants. Hence, there are a lot of opportunities in the bulk drugs export segment, considering the demand that could potentially come from formulation plants located in Uruguay. There is also scope for increasing trade in the most exported product thus fari.e. plastics. The Indian Plastic Industry is comprised of highly fragmented players of different sizes spread all over the country. As such, it is believed that the enterprises have not been able to exploit international trade opportunities to the fullest, mainly due to their inability to handle large export orders. In recognition of this handicap, the Government has adopted a more industry -friendly policy and has encouraged the formation of plastic clusters that would help upgrade technology and build production capacities to cater to large export volumes. The Government is also encouraging the industry to take advantage of its Focus Market Schemes, which means that Latin America and Uruguay could soon become focused export destinations for Indian plastic manufacturers. Indian investments in Uruguay In recent years, major Indian companies have turned to Uruguay when making investments. Some important Indian companies have either set up offices in Uruguay or have acquired local companies. The most renowned include:

TCS Arcelor Mittal Geodesic

Showcasing Uruguay: Sectoral and Regional Opportunities While Indian investments are finding their way into Uruguay, opportunities are still largely unexplored and under-utilised. Therefore, it might not be out of place to list out a few of the business opportunities staring Indian investors in the eye. Information and Communications Technology (ICT) Infrastructure Tourism Agribusiness Renewable Energy Health and Life sciences

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