External Affairs Minister S M Krishna will lead the Indian delegation while Community of Latin American and Caribbean States (CELAC) will be led by his Chilean counterpart Alfredo Moreno Charme.
Foreign Minister of Venezuela Nicolas Maduro and Vice Foreign Minister of Cuba Rogelio Sierra will also participate in the first India-CELAC Troika Foreign Ministers Meeting.
India's trade with the region was over USD 25 billion in 2011 and cumulative investments are estimated to be USD 16 billion mostly in hydrocarbons, minerals, agriculture, pharma and IT sectors.
CELAC had come into existence in December last year.