India Deepens Trading Ties with Chile and Peru: Next Negotiation Rounds Set for August

The next round of trade negotiations between India and the South American nations of Chile and Peru is slated for August, a government official announced on Wednesday. Each agreement is being carefully negotiated independently, with Chile set to engage in its second round of discussions and Peru its eighth.

India and Chile are working towards a comprehensive free trade agreement, having already implemented a preferential trade agreement in 2006 that was expanded in 2016. The proposed comprehensive economic partnership aims to broaden the trade scope to include sectors such as digital services, investment promotion, cooperation, and critical minerals.

Trade figures between the nations have seen fluctuations. India's exports to Chile decreased by 2.46% in 2024-25, totaling USD 1.15 billion, while imports surged 72% to USD 2.60 billion, mostly due to minerals. Meanwhile, India's exports to Peru rose by 9% to USD 1 billion, with imports significantly increasing by 60% to USD 4.98 billion.

(With inputs from agencies.)