Given the genetic and cultural affinity of Central and South American countries to India they would welcome increased economic ties with India.  The Indian government should establish a department in the Ministry of Commerce and Industry to study and publicize the historical links between India and these countries.  

China's investment in its Belt and Road Initiative (BRI), which includes the land-based Silk Road Economic Belt and the Maritime Silk Road, has reached a cumulative total of about $1.3 trillion since the initiative's launch in 2013.   This will reestablish links with many countries to significantly boost trade and ensure the growth of China's economy.   India needs a similar long term vision.  India can also  reestablish links with countries it has been connected to in the past to boost trade and the economy.  

Some of the modern countries, which correspond to past empires with an Indian connection, are listed below.    

Greek --> Greece    

Khmer Empire --> Cambodia, Laos, Thailand, & Vietnam                                               

Inca --> Peru  

Maya --> Central America  

Aztec --> Mexico 

During various historical periods India accounted for nearly a third of global GDP, not even counting the pre-Columbian civilizations in the Americas that Indians created.  Thus, there is scope for significant economic development in modern India and the start of a new Golden Age in India.  

Wikipedia

Golden Age of India