Chile and India are preparing to begin the fourth round of negotiations on their proposed Free Trade Agreement (FTA) next month in New Delhi, aiming to sustain the momentum built during the latest discussions in Santiago held from October 27–30. The talks in Chile allowed both sides to advance significantly on a pact that follows a traditional format but includes a notable addition: a dedicated chapter on critical minerals.
This minerals-focused element is emerging as a key feature of India’s recent trade strategy. As New Delhi works to secure long-term access to essential raw materials needed for clean technologies and advanced manufacturing, it has sought to include similar provisions across several ongoing trade negotiations. Critical minerals such as copper and lithium have become increasingly important due to rising global demand and frequent export restrictions from major suppliers like China.
Following the Santiago meetings, Indian negotiators continued to Peru for the ninth round of the India–Peru Trade Agreement, held from November 3–5 in Lima. Both sides agreed to hold the next round in January 2026 in New Delhi. Like the Chile pact, the Peru agreement also features a minerals chapter to help ensure stable supplies for Indian industry.
During the latest discussions in Chile, negotiators addressed a wide range of topics under the proposed Comprehensive Economic Partnership Agreement (CEPA). These included trade in goods and services, investment facilitation, rules of origin, intellectual property rights, economic cooperation and the minerals framework.
Chile and Peru are among the world’s most resource-rich nations. Chile holds the largest global copper reserves and is a top lithium producer, while Peru ranks high in silver, copper and molybdenum deposits. Their trade ties with India continue to expand as well. In 2024–25, India exported $1.02 billion worth of goods to Peru and imported $4.98 billion, while exports to Chile reached $1.15 billion against imports of $2.60 billion.
Both negotiations underscore India’s growing focus on securing mineral supply chains and deepening economic ties with South America.
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