Prelims Perspective: What needs to be learned?

• What’s Mercosur, and who are the Member Countries 
• India’s Engagement

Mains Perspective: Notes need to be prepared

• Regional Grouping(GS II- International Relations)

What needs to be known?

• MERCOSUR  Grouping
  • What is it?: It is a regional trade bloc and customs union headquartered in Montevideo, Uruguay, and formed by the Treaty of Asunción (1991).
  • Member Countries: Argentina, Brazil, Paraguay, Uruguay.
• Significance of MERCOSUR  Grouping for India
  • Diversification of the market for Indians goods like pharmaceuticals, automobiles, textiles, IT services, chemicals, and engineering goods
  • Access to critical minerals like Lithium (Lithium Triangle – Argentina, Chile, and Bolivia).
  • Strengthens South–South cooperation and ensures support for UN reforms.

Source: The Indian Express