India and Ecuador are entering a new phase in bilateral relations, with both sides looking to deepen engagement across trade, pharmaceuticals, digitalisation, renewable energy and investment.
With high-level visits expected and the opening of India’s embassy in Quito imminent, both sides are optimistic about the future.
“India is a big power, a country that has good relations with everyone,” Ambassador Fernando Bucheli told StratNews Global during an exclusive interview.
Ambassador Bucheli outlined a broad roadmap for cooperation, backed by the recent decision to open an Indian embassy in Quito, seen as a major diplomatic milestone after decades of engagement.
“This is a recognition of Ecuador as a partner,” the envoy said, adding that the move would “improve our relationship in terms of trade, political affairs and cooperation.
“I have been in Delhi almost for two years, it was always my dream to come to your country, to learn about spirituality, yoga and Hinduism,” he said.
His travels across India, from the Himalayas to Goa, Mumbai, Bengaluru and Rishikesh, have given him a deeper appreciation of India’s diversity and economic dynamism.
“I have only visited a very small part. There is still a lot to see,” he remarked.
Pharma, Digitalisation
Ecuador has identified three priority areas for cooperation with India. Pharmaceuticals top the list.
“India is the pharmacy of the world. You produce fantastic medicaments, from generic to high-end medicines,” the ambassador said, indicating strong interest in expanding imports and collaboration in healthcare systems.
Digitalisation is another area of admiration.
“The UPI system is fantastic, from small vendors to big companies, all are integrated,” he noted, adding that Ecuador wants to learn from India’s digital public infrastructure and healthcare digitisation.
Renewable energy, especially solar, is the third pillar.
“You are doing a great job in solar energy, we are working to become a member of the International Solar Alliance,” he said, pointing to Ecuador’s geographical advantage of abundant sunlight.
Trade Talks
Negotiations for a trade agreement between the two countries, which began in 2019, were disrupted by the pandemic. Now, discussions are set to resume.
“We are going to have the third meeting of the Joint Economic Committee,” the ambassador said. “We want to start with a preferential trade agreement.”
Ecuador currently exports gold, teakwood, cocoa and crude oil to India, while importing pharmaceuticals, vehicles and other manufactured goods.
“We are buying more from India than we are selling, but we want to do more,” he acknowledged.
The envoy also highlighted Ecuador’s strength in critical minerals and energy supplies. “We have copper, silver and rare minerals in high demand for high-technology equipment,” he said.
Gateway to Latin America
Ecuador is actively courting Indian investors, positioning itself as a gateway to Latin America.
“We are in the middle of the world, very easy access to Europe, the Panama Canal, the Americas and Asia,” the ambassador said.
He pointed to several advantages:
- A dollarised economy with no currency risk
- Strong infrastructure and connectivity
- A skilled workforce
“We are a country very open for foreign investment, we want to be a real partner,” he added. The government is also reopening mining concessions and offering incentives through international bidding processes.
Bollywood, Textiles
Beyond trade, Ecuador is exploring cultural and creative collaborations. The ambassador extended an open invitation to Indian filmmakers: “You have beautiful beaches, mountains and jungles, but in Ecuador, you have all of this in a very small distance. It is convenient for filmmakers.”
He confirmed that incentives, including tax benefits, are being offered to attract film production.
Textiles and cultural exchanges are also on the agenda, with plans for collaboration between Indian states like Assam and Ecuadorian provinces.
Connectivity, Mobility
On the issue of visas, the ambassador acknowledged challenges but said reforms are underway.
“We now have a centralised online system, we are working to make it easier,” he said, adding that Ecuador aims to attract more Indian tourists, professionals and investors.
Discussions are also underway on mobility agreements to facilitate workforce exchanges.
Addressing regional security concerns, the envoy said Ecuador is working with international partners to tackle organised crime and drug trafficking. “This cannot be done by one country, it requires international cooperation,” he said.
