New Delhi, Dec. 18 -- Argentina's Ambassador to India, Mariano Caucino, on Thursday revealed a growing consensus among some MERCOSUR members and India to expand the existing Preferential Trade Agreement (PTA) signed in 2004, acknowledging that the current pact is limited to a narrow range of products.

Speaking to ANI on India's trade relations with Latin American countries, the Ambassador acknowledged the need for expanded trade coverage between New Delhi and the trading bloc and noted the higher import tariffs imposed by India.

"Argentina is a founding member of MERCOSUR. There is a Preferential Trade Agreement between India and MERCOSUR, signed in 2004, which came into effect in 2009. But it is limited to some products. There is conse...