Now Reading: India to finalise comprehensive trade treaty with Chile this week
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India to finalise comprehensive trade treaty with Chile this week
India to finalise comprehensive trade treaty with Chile this week
India will hold talks with Chile this week to finalise a comprehensive trade treaty, upgrading the 2007 preferential trade agreement. Commerce secretary Rajesh Agrawal will visit Chile to resolve remaining issues on…
India will hold talks with Chile this week to finalise a comprehensive trade treaty, upgrading the 2007 preferential trade agreement. Commerce secretary Rajesh Agrawal will visit Chile to resolve remaining issues on market access and critical minerals. The new Chilean government is keen on the deal, an official said.
India is stepping up engagement across Latin America, with simultaneous talks with Argentina and Brazil. The region accounts for less than 3.5% of India's exports ($4.4 billion in June quarter) and about 6.4% of imports (nearly $14 billion). Separate negotiations with Mexico to set terms for a preferential trade agreement are also underway.
Indian Opinion Analysis
India's trade with Latin America remains a fraction of its total commerce, but the region holds critical minerals essential for electronics and electric vehicles. Chile alone supplies over 90% of global lithium reserves. A comprehensive trade agreement could secure supply chains for India's manufacturing ambitions, especially in batteries and semiconductors. The government's push to diversify away from China makes this outreach strategically significant. Success would hinge on resolving tariff and investment barriers that have stalled earlier talks. The next milestone is the May 16 deadline for finalizing negotiations.
Source: timesofindia.indiatimes.com
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