NEW DELHI: India wants to triple exports to Argentina, eyeing an additional $1.5 billion worth of shipments, and is seeking market access for apparel, textiles, folding bicycles and home furnishing products in the South American Country.

Ahead of Argentine President Mauricio Macri’s likely visit to India next month, India is also keen to promote ethnic products such as Alphonso mangoes and Khadi.

“Sophisticated high-end bicycles and bicycle components alone have the potential to offer a $1-billion export opportunity to Indian exporters with another $300-350 million coming from the apparel and textiles industry. There might be collaborations with companies from both countries,” said an official. Indian exporters of office stationery, handicrafts and home furnishing products have pushed for the removal of non-tariff barriers such as custom clearances to help increase current exports of $10 million to $100 million. Exporters also want a reduction in the 25% import duty on sports equipment.

India’s exports to Argentina were $708.7 million in 2017-18, consisting mainly of organic chemicals, vehicles and auto parts, lubricants, machinery, sound and image devices and garments. Imports from Argentina were $2.2 billion, mainly soybean oil, petroleum, copper, sunflower oil, leather, wool and ferroalloys.