India and countries of the Latin American and the Caribbean region have huge potential to boost economic ties in areas like agriculture, health, energy and information technology, the Commerce Ministry said on Thursday.
Quoting Commerce and Industry Minister Suresh Prabhu who addressed diplomats of the Latin America and Caribbean (LAC) Strategic Economic Cooperation here Wednesday, it said there is a need for a multi-pronged strategy to enhance bilateral trade in merchandise and services.
The Ministry said Indian companies could form joint venture projects for cultivation of lentils, oil-seeds and food grains, which are crucial import items, besides conducting joint research in dairy farming, seeds and pulses.

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