El Salvador Strengthens Trade Ties with India with New Export Mission

New Delhi, 13 March 2025.

El Salvador is setting its sights on increasing exports to India, a growing market that already imports products such as wood pulp, plastics, leather goods, and iron and steel from local companies, according to the Central Reserve Bank (BCR).

Minister María Luisa Hayem speaking to media ahead of her visit to India.

The Minister of Economy (Minec), María Luisa Hayem, confirmed this week that an official mission will depart next week to explore the Indian market further.

“The idea is to promote and sell our products in a large market like India, and to increase exports to that country,” said Hayem in an interview with the state-run television channel.

The mission will be accompanied by five companies, which will join the government in visiting the southern Asian country to strengthen trade relations.

According to the BCR, exports to India increased by 98.2% between 2023 and 2024. In the past year, Salvadoran businesses sent $2.9 million worth of goods to India—approximately $1.4 million more than the $1.5 million recorded in 2023.

A significant portion of these exports was made up of wood pulp and other fibrous cellulose materials, as well as paper and cardboard intended for recycling, which accounted for 38.1% of the total. Meanwhile, 17.4% of the exports were machines, apparatus, and electrical materials, including sound and image recording or reproduction equipment, as well as their parts.

The Indian market has also shown a demand for aluminum and its derivatives, organic chemicals, rubber, resins, and various vegetable extracts.

According to the Ministry of Economy, the drive to boost these exports is part of the country’s economic diplomacy efforts, coordinated with the Ministry of Foreign Affairs.

Additionally, the government is working to establish a commercial agreement with Belize, with Hayem stating that the legal instrument for this deal is currently undergoing internal processing.

Hayem also reminded that the country is negotiating a free trade agreement (FTA) with China, Peru, and the Southern Common Market (Mercosur), further solidifying El Salvador’s international trade strategy.

The Minister will also participate in the 10th CII India LAC Conclave, scheduled for March 19-20, 2025, in New Delhi, as highlighted in a recent social media post by the Confederation of Indian Industries.