At the G20 Summit in Rio de Janeiro, Prime Minister Narendra Modi met with Chile’s President Gabriel Boric Font to discuss expanding and diversifying the growing relationship between India and Chile. The leaders explored new opportunities for cooperation in areas such as trade, technology, energy, and healthcare, laying the groundwork for a stronger partnership in the coming years.

Strengthening Bilateral Relations

During their meeting, both Modi and Boric shared their vision for a deeper and more strategic relationship between the two countries. Modi highlighted the progress in India-Chile relations, pointing to increasing cooperation in various sectors, including pharmaceuticals, technology, and space. He noted that the rising interest in Ayurveda in Chile offered further avenues for cultural and health-related exchanges.

President Boric, for his part, discussed the ongoing negotiations for the Comprehensive Economic Partnership Agreement (CEPA), a key agreement aimed at boosting trade and investment between the two nations. He also expressed the desire to enhance academic exchange and foster closer cultural ties, with a focus on strengthening people-to-people connections. Boric’s official visit to India, scheduled for early 2025, will be a significant step forward in advancing these goals.

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Key Areas of Cooperation: Lithium and Copper

A major focus of the talks was the growing importance of lithium, a resource crucial to India’s electric vehicle (EV) and renewable energy sectors.

Chile, which holds some of the largest lithium reserves in the world, is a key supplier for India’s ambitious green energy transition. The two countries could collaborate on securing and developing lithium resources, which are essential for battery production and the expansion of sustainable technologies.

Copper is another important mineral, as Chile is the world’s largest producer of this vital metal. India’s growing infrastructure and manufacturing sectors have an increasing demand for copper, and both leaders saw significant potential for trade and investment in this area.

Expanding Trade and Technological Ties

The two leaders explored new avenues for strengthening trade and technological collaboration. India’s pharmaceutical industry, a global leader in affordable and high-quality medicines, is eager to deepen its engagement with Chile. Both countries discussed opportunities for expanding the presence of Indian pharmaceutical companies in Chile, as well as collaborating on joint research and development initiatives.

In the field of technology, India’s expertise in IT services, software development, and digital infrastructure offers significant opportunities for cooperation. Both Modi and Boric recognized the potential for Indian tech companies to support Chile’s growing digital economy, particularly in areas such as artificial intelligence (AI), cybersecurity, and software services.

Renewable energy also emerged as a key area for collaboration. With India’s ambitious renewable energy targets and Chile’s leadership in solar and wind power, both countries are looking to share knowledge and best practices. Modi and Boric discussed potential joint projects in clean energy, which could further accelerate both nations’ efforts to address climate change and promote sustainability.

Agricultural Trade and Cultural Engagement

Agriculture continues to be an important sector for India and Chile. Chile, known for its fruit, wine, and nuts, sees India as a promising market for its agricultural exports, while India is exploring opportunities to increase exports of products such as basmati rice, mangoes, and bananas to Chile. Both countries are working to streamline regulations and address trade barriers to make agricultural exchanges smoother.

Cultural and academic ties were also a key part of the conversation. Modi and Boric discussed the importance of fostering greater people-to-people connections through initiatives such as student exchanges, cultural programs, and collaborative research projects. Strengthening these ties will help deepen the mutual understanding and long-term partnership between the two nations.

Looking Ahead: President Boric’s Upcoming Visit to India

One of the most exciting outcomes of the meeting was the announcement of President Boric’s official visit to India, scheduled for early 2025. This visit will provide an opportunity for both nations to take stock of their relationship and explore new areas of cooperation. The leaders hope to build on their discussions and formalize agreements, particularly in trade, green energy, and critical minerals like lithium and copper. The visit will be a significant milestone in further strengthening India-Chile ties.

A Promising Future for India-Chile Relations

The meeting between Prime Minister Modi and President Boric marks a new chapter in the bilateral relationship between India and Chile. With both countries committed to deepening their engagement in critical areas like lithium, copper, renewable energy, pharmaceuticals, and technology, there is significant potential for mutual growth and cooperation.