India's Energy Diversification Strategy 'Wise Move': Argentina Envoy

(MENAFN- IANS) New Delhi, March 24 (IANS) Calling India's push to diversify its energy and resource suppliers a 'wise strategy,' Argentina's Ambassador to India, Mariano Agustin Caucino, said New Delhi had already been working in this direction even before recent global conflicts reshaped supply chains.

Speaking to IANS here, Caucino said that India's approach to reduce dependence on limited sources of energy and critical resources reflects long-term strategic thinking.

“Even before the last evolution of this conflict, the Indian government has been developing a strategy of diversifying its suppliers in terms of energy and other resources, which I think is wise,” he stated.

He noted that even before the latest global tensions, the Indian government had been actively trying to diversify its supply base.

He said this policy has helped India strengthen its position in an increasingly uncertain global environment.

“Expanding the pool of suppliers is not only practical but also necessary to ensure stability in energy and resource availability,” he mentioned.

Highlighting growing ties between the two countries, the envoy said Argentina and India share a strong and complementary economic relationship.

He added that both nations have been working to elevate their ties into a strategic partnership in recent years.

Caucino pointed out that Argentina is already contributing to India's food security and is now expanding cooperation into key sectors such as energy and critical minerals.

He specifically mentioned lithium, a crucial component for batteries and clean energy technologies, as an area of increasing collaboration.

The ambassador said Argentina has vast lithium reserves in its northern region, which forms part of the“lithium triangle” along with Chile and Bolivia.

He also noted that the Argentine government has introduced policies to promote foreign investment and provide guarantees to investors, making it an attractive destination for Indian companies.

He added that Indian firms have already made promising investments in Argentina's lithium sector, signaling deeper engagement in the future.

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