The IMC Chamber of Commerce and Industry (IMC) had the distinct honour of hosting H.E. Mr. Santiago Peña Palacios, Hon’ble President of the Republic of Paraguay, during his official visit to India in June 2025. The visit marked a significant milestone in strengthening bilateral relations, highlighted by the signing of a Memorandum of Understanding (MoU) between IMC and key Paraguayan authorities to enhance trade, investment, and economic cooperation between the two nations. The MoU aims to foster mutually beneficial business engagement by encouraging Indian companies to explore investment opportunities in Paraguay—leveraging its investor-friendly ecosystem, strategic access to Latin American markets, and growing economic sectors.
The high-level interaction at IMC brought together leading Indian business leaders, including managing directors, CEOs, and industry experts, for a focused dialogue with the visiting Paraguayan delegation. Discussions centered around potential collaboration in key areas such as agribusiness, renewable energy, logistics, automotive, pharmaceuticals, IT, and textiles. Paraguay’s stable economy, competitive tax regime, and access to the MERCOSUR bloc were recognized as compelling advantages for Indian investors. In his address, President Peña Palacios underscored Paraguay’s commitment to deepening bilateral engagement and welcomed Indian investments in its priority sectors. He reaffirmed Paraguay’s dedication to macroeconomic stability, policy transparency, youth development, and efficient governance.
The President also highlighted his government’s efforts to create an enabling business environment rooted in openness, human capital advancement, and pro-investment reforms. Welcoming the President and his delegation, Mr. Sanjaya Mariwala, President of IMC, stated that the visit not only a diplomatic milestone but also a strategic step toward a robust economic partnership. “IMC is proud to serve as a bridge between Indian and Paraguayan businesses, fostering collaborations in clean energy, digital services, education, and infrastructure. With India’s innovation strengths and Paraguay’s conducive business climate, we see immense potential for long-term cooperation,” he added.
The visit concluded on a promising note, reaffirming a shared vision for enhanced economic engagement and enduring collaboration between India and Paraguay. (By Ajit Mangrulkar, Director General, IMC)
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