New Delhi, Dec (NationPress) India and South America are experiencing expanding possibilities for collaboration in essential sectors such as pharmaceuticals, hospital management, and medical devices, as stated by PHD Chamber of Commerce and Industry (PHDCCI) CEO and Secretary General Ranjit Mehta on Monday.

In an interview with IANS during the Indo–South America Trade and Investment Conclave, Mehta indicated that the chamber has united various stakeholders from India and numerous South American nations to enhance business interactions and discover new investment opportunities.

He remarked, "The feedback from industries on both ends has been quite positive. Our goal through this platform is to promote both inbound and outbound investments and establish more streamlined avenues for cross-border commerce."

Mehta pointed out that South American economies possess robust strengths in agriculture, food processing, and rare mineral resources, whereas India provides a massive consumer market and is among the fastest-expanding major economies worldwide.

He emphasized that pharmaceuticals represent a significant area for collaboration, as South American countries are eager to advance their healthcare sectors. "There is evident potential for partnerships in pharmaceuticals, hospital management, and medical devices, and we view this as a significant growth opportunity for both regions," he added.

In agreement, Guyana’s High Commissioner to India, Dharamkumar Seeraj, mentioned that South American nations have made swift advancements recently, and such trade forums are crucial for fortifying commercial relations. He noted that the conclave would aid businesses in understanding regional dynamics and pinpointing tangible investment prospects.

The Chilean Ambassador to India also highlighted the significance of the forum, stating that it offers invaluable insights into South American markets and facilitates direct interactions with Indian firms seeking opportunities in the region.