India and Argentina Sign Social Security Agreement
- India‐Argentina relations were elevated to the level of Strategic Partnership in February 2019.
- India opened a Trade Commission in Buenos Aires in 1943, which was later converted into one of the first embassies of India in South America in 1949.
- Argentina had established a Consulate in Calcutta in the 1920s, which was transferred to Delhi as an Embassy in 1950.
- India is the 4th largest trading partner of Argentina, with bilateral trade touching a historic peak of USD 6.4 billion in 2022, recording a growth rate of 12% over 2021.
- India and Argentina have historical and literary ties, such as the visit of Rabindranath Tagore to Argentina in 1924 and the award of an honorary doctorate to Victoria Ocampo by Visva Bharati University in 1968.
- India and Argentina recently signed a ‘Social Security Agreement(SSA)’ aimed at safeguarding the legal rights of professionals in each other’s domains. This agreement is expected to facilitate risk-free international mobility for professionals from both countries.
- It ensures that the rights of professionals and workers in both countries are protected against the loss of social security benefits or contributions.
- The growing number of Indian professionals working in Argentina and Argentine nationals seeking employment in India necessitated this legal framework.
- The SSA applies to legislation in both India and Argentina concerning various aspects of social security, including old age, survivor’s pension, and permanent, total disability pension for employed persons.
- The agreement provides rights and benefits to detached workers, i.e., employees working in another country on a temporary basis, and their family members.
- The SSA establishes the legal framework for regulating the insurance period, which includes the period of services credited with contributions, contributory benefits, and their export for detached workers.