This article covers trade and investment between India and Bolivia: the trade figures and main goods traded, Indian companies active in Bolivia, cooperation on lithium and minerals, and the business forums in which Bolivian ministers have taken part. It is based on the MEA bilateral brief of June 2026, and figures are as of that date.

Overview

According to the MEA brief of June 2026, trade between India and Bolivia is modest but has potential to grow, and there is scope for improvement. The brief states that the two countries are exploring commercial tie-ups for the supply of Bolivia's lithium carbonate and the production of lithium-ion battery products.

Trade figures

The brief gives trade figures from the Ministry of Commerce and Industry, India, in USD million. India's exports to Bolivia were:

  • 2020-2021: 94.33
  • 2021-2022: 117.95
  • 2022-2023: 77.34
  • 2023-2024: 71.41
  • 2024-2025: 70.12
  • 2025-26: 55.99

For the three most recent years in the table, the brief gives these figures, in USD million:

  • 2023-2024: India's imports from Bolivia 1,087.33; total trade 1,158.74; trade balance -1,015.92
  • 2024-2025: India's imports from Bolivia 369.46; total trade 439.58; trade balance -299.34
  • 2025-26: India's imports from Bolivia 1257.81; total trade 1313.80; trade balance -1201.82

The table shows growth of 240.44% in India's imports from Bolivia in 2025-26 and growth of 198.88% in total trade, while the growth figure for India's exports was -20.15%. For 2024-2025 it shows import growth of -66.02% and total trade growth of -62.06%.

Main items traded

India's main exports to Bolivia include automobiles, pharmaceuticals, machinery, rubber and plastic products, organic chemicals, manufacturing, vegetable products, metal products, textiles and fibres, iron and steel, aluminium waste and scrap, and lac, gums, resins and other vegetable saps and extracts.

The main imports from Bolivia to India are precious stones and metals, manufactured materials related to construction and other industries, mineral products, machinery, aluminium waste and scrap, wood, leather, textiles and organic chemicals.

Indian companies in Bolivia

The brief describes investment by Indian companies in Bolivia as moderate. Companies such as Brawn Laboratories, Protech Biosystems Group and Gajraj International operate on a small scale. Bajaj Auto, Hero Motors, TVS and Mahindra & Mahindra have local dealerships in Bolivia.

Indian investment by Jindal Steel & Power Limited to develop El Mutun, an iron ore and steel project, was terminated in July 2012.

Lithium

The brief states that Bolivia has the world's largest lithium reserves, estimated at 23 million tonnes, but that industrial scale production has not yet started. As of June 2026, the country was able to produce over 550 tonnes of lithium carbonate a year from pilot plants.

Bolivia is concentrating on lithium exploration and extraction at three locations, Salar de Uyuni, Coi Pasa and Pastos Grandes, using Direct Lithium Extraction Technology (DLE) with technology partners. According to the brief, a plant inaugurated by President Luis Arce in December 2023 is designed to produce 15,000 metric tons per year but currently operates at 15% capacity. A separate US$130 million Lithium Carbonate (Li2CO3) Plant of 15,000 tonnes production capacity, under construction at Lilipi in Salar de Uyuni since 2019-2020, is expected to commence production soon.

Bolivian authorities have expressed interest in working with Indian Government PSUs and private sector companies in the lithium sector. Key steps recorded in the brief are:

  • 2019: the Bolivian Government invited India to be its partner in the lithium sector. The Energy Ministry and the State-owned YLB Corporation expressed willingness to supply lithium carbonate to India and sought a proposal from Indian industry for a joint venture company with YLB for cathode material and battery manufacturing in India. A three-member KABIL team visited Bolivia from 3-5 February 2019 to explore opportunities.
  • October 2019: Dr. V.K. Saraswat, Member of NITI Aayog, led a five-member delegation to Bolivia from 10-13 October 2019. It held technical discussions at the Bolivian Ministry of Energy with the Vice Minister of High Energy Technologies, Mr Luis Alberto Echazú Alvarado, the Managing Director of YLB (Yacimientos de Litio Boliviano, Bolivian Lithium Deposits), Juan Carlos Montenegro, and other experts, and visited YLB plants and evaporation ponds at Salar de Uyuni.
  • 11 November 2023: Altmin, a Hyderabad-based Cathode Active Materials company, signed an MoU with YLB Bolivia for sourcing lithium carbonate. The brief states that the company is actively working in lithium, though it does not have a local office in Bolivia.

Joint Working Group on Minerals

The MoU on Cooperation in Geology and Mineral Resources was signed on 29 March 2019. The Joint Working Group (JWG) under it met for the first time on 07 April 2022 and for the second time on 09 June 2023, both in virtual format. The meeting was headed by Dr. Veena Kumar, JS (Mines), on the Indian side and by the DG (Planning) of the Ministry of Mining and Metallurgy on the Bolivian side.

The MoU expired in March 2024. In October 2025, Ambassador Rohit Vadhwana and the then Foreign Minister of Bolivia, Ms. Celinda Sosa Lunda, signed an extension protocol renewing it from March 2024 to March 2029.

Business conclaves

The then Bolivian Minister of Development Planning, Mr Sergio Cusicanqui, visited India from 3-5 August 2023 to take part in the 9th CII-LAC Business Conclave. He had earlier visited India in March 2016.