India, Chile Evaluate Progress of Bilateral Trade Pact Negotiations
India and Chile Enhance Trade Talks for Comprehensive Economic Partnership Agreement
India and Chile reviewed the progress of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) and discussed modalities for its early conclusion during a meeting between Chilean Foreign Affairs Minister Francisco Perez Mackenna and Indian officials.
The Chilean minister, leading a delegation, held meetings with Commerce and Industry Minister Piyush Goyal and Commerce Secretary Rajesh Agrawal. The interactions covered a broad range of issues relating to trade facilitation, market access, investment promotion, and strengthening institutional economic engagement between the two countries.
Both sides deliberated upon ways to enhance collaboration in sectors such as critical minerals, renewable energy, agri-business, infrastructure, pharmaceuticals, digital services, logistics, and advanced manufacturing. India and Chile implemented a preferential trade agreement (PTA) in 2006 and are now negotiating to widen its scope for a CEPA.
The CEPA with Chile aims to build upon the existing PTA and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, micro, small, and medium enterprises (MSMEs), and critical minerals. The pact could help India access critical minerals, which are key inputs for electronics, auto, and solar sectors.
Chile holds the world's largest lithium reserves and is the top producer of copper. The bilateral trade between India and Chile is modest, with India's exports to Chile declining 2.46 per cent to just USD 1.15 billion in 2024-25. However, imports grew 72 per cent to USD 2.60 billion during the same period.
Comparison of India's Exports and Imports to Chile in 2024-25
| Category | Exports (USD) | Change (%) | Imports (USD) | Change (%) |
|---|---|---|---|---|
| Exports | 1,150,000,000 | -2.46 | ||
| Imports | 2,600,000,000 | 72 |
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