Prime Minister Narendra Modi met leaders of South America in Brasilia and said that India and South America share a deep bond.

He assured them that India will work more closely with South America than ever before at the bilateral level, as a BRICS member, in the G-77, as well as other international forums.

Mr Modi said, there is a growing presence of Indian investors in South America, however, still well below its potential.

He said, the range of opportunities are enormous from hydrocarbons to pharma, textiles to leather, engineering goods to automobiles. He said, as trade partners we must utilize more effectively the Preferential Trade Agreement between India and the MERCOSUR Trade Bloc and Chile.

The Prime Minister said, India also attaches importance, to the South American and Caribbean Business Conclave held every year in India. A similar Investment Conclave will be organized in India in October this year. Mr Modi called upon the South American leaders to encourage their business leaders to take full advantage of this opportunity.

The Prime Minister said, he firmly believes that the possibilities of cooperation are limited not by distance but only by our imagination and efforts. He said, we have much to learn from each other in our journey towards inclusive and sustainable development.

The Prime Minister said, we must share with each other, our experiences, best practices and innovative solutions and India stands committed to the same. He said, he is pleased that India has deputed experts to countries in the South American region in the fields of Agriculture, Horticulture, Disaster Management, Communications and Law.

The Prime Minister said, we are also working together in the field of Renewable Energy.

He also offered to expand cooperation, in areas like Tele-medicine, Tele-education and e-Governance with the Latin American countries. Mr Modi also extended India's space capabilities for weather forecasting, resource mapping and disaster management.

Prime Minister Narendra Modi has since left for home after a three-day visit to Brazil for attending the BRICS summit.He will have a brief technical halt in Frankfurt before reaching Delhi.