India and Chile are likely to hold a fourth round of negotiations on proposed Free Trade Agreement (FTA) next month here, aiming to maintain momentum after talks in Santiago in late October.
The upcoming round follows meetings held in Chile from October 27–30, where both sides advanced work on a pact that, while largely conventional, includes an unusual chapter on critical minerals. New Delhi is pushing for similar provisions in multiple trade agreements as it seeks to secure long-term supplies of key inputs for clean-tech and advanced manufacturing.
After the Chile talks, a team of negotiators travelled to Lima for the ninth round of the India-Peru Trade Agreement from November 3–5. Both sides agreed to hold the 10th round in New Delhi in January 2026. That pact also features a chapter on critical minerals.
Talks in Santiago covered a broad set of Comprehensive Economic Partnership Agreement (CEPA), including trade in goods and services, investment promotion, rules of origin, intellectual property, economic cooperation and the minerals chapter.
India’s push reflects growing concerns over supply security in sectors dependent on copper, lithium and other minerals, especially amid frequent export controls from China. The chapters under discussion would establish terms for mineral trade with Chile and Peru.
Both countries hold some of the world’s largest deposits. Chile is the top copper reserve holder and a major lithium supplier, while Peru has the world’s second-largest silver reserves and is rich in copper and molybdenum.
Peru is India’s larger South American trade partner. In 2024–25, India exported $1.02 billion to Peru and imported $4.98 billion. Exports to Chile totalled $1.15 billion against imports of $2.60 billion.
India’s key exports to Peru include automobiles, motorcycles, three-wheelers, polyester and cotton yarns, pharmaceuticals, metals, plastics, rubber products and pipes for the oil and gas industry. Imports are led by gold, copper, synthetic filaments, calcium phosphates, fresh grapes and fish flour.
