The bilateral trade has been on an upward trajectory in recent years with India having enjoyed the surplus traditionally. In 2023, bilateral trade stood at USD 545.38 million of which Indian exports constituted USD 401.63 million and imports from Uruguay were USD 143.75 (Source: DGCIS; In USD million). Plastics, petroleum oils, vehicles, auto-parts and organic chemicals are the main items of export from India to Uruguay. Timber, shorn wool, edible oils, iron & steel casings and tubes and inorganic chemicals are the main items of export from Uruguay to India.
Tata Consultancy Services (TCS) has a software development centre and regional training centre in Montevideo that employs more than 3,000 employees including 530 Indians. This was the first Indian IT in Latin America, established in 2002. Another Indo-American company, Infogain, opened its delivery center in Montevideo, in April 2022, the first in the LAC region.
The Uruguayan company Berkes has an office in Noida and is expanding the building of 11 boilers all over India. This is helping in combating pollution by the production of biomass that is enhancing the capabilities to produce renewable energies.