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Dr. S. Jaishankar, External Affairs Minister, unveiled a bust of Mahatma Gandhi in Asuncion, Paraguay. The Minister also paid a visit to Paraguay's historic Casa de la Independencia, where the country's independence movement began more than two centuries ago.

Backstory:

Political Relations

  • India and Paraguay established diplomatic ties in 1961.
  • The Indian Embassy in Buenos Aires, Argentina, is also accredited to Paraguay and maintains an Honorary Consul in Asuncion, the country's capital.

Bilateral Interactions

  • The Vice President of India, Shri M. Venkaiah Naidu, conducted an official visit to Paraguay in 2019, the seniormost visit from India to Paraguay since diplomatic ties were established.
  • Mr. Fernando Lugo, the then-President of Paraguay, visited India in 2012.

Bilateral Trade

India's exports to Paraguay were valued at USD 126.96 million in the fiscal year 2019-20, while Paraguay's exports to India were valued at USD 25.28 million thus India is enjoying a trade surplus.

  • Paraguay is a MERCOSUR member. An IndiaMERCOSUR Preferential Trade Agreement (PTA) was signed in 2004 and went into effect in 2009.
  • Certain Indian products entering MERCOSUR nations have preferential tariffs (100% in most situations).
  • India provides an additional 10% preference margin to Paraguay in exchange for a tariff rate quota of up to 30000 MT/year in crude soybean oil imports.

Cultural Relations

  • Paraguayans have a strong interest in Indian arts, culture, and heritage.
  • Paraguayans have enthusiastically participated in Indian food festivals and all editions of International Yoga Day to date.

Cooperation in Technology and Development

Under the ITEC initiative, India gives Paraguay ten scholarships.

Indian Community

  • Approximately 600 Indians live in Paraguay, primarily in Ciudad del Este, a city in the country's southeast near the border with Brazil and Argentina.
  • Around 200 of them are NRIs, with the remainder being PIOs active in commerce, wholesale, and retail.

Source:https://newsonair.gov.in/News?title=EAM-Dr-S-Jaishankar-unveils-bust-of-Mahatma-Gandhi-in-Asuncion%2c-Paraguay&id=446371