India to hold next trade talks with Chile and Peru in October and November to expand economic partnerships

The next rounds of talks between India and two South American countries, Chile and Peru, will be held in October and November, respectively. A government official shared this information. The official stated that the five-day talks with Chile will begin in Santiago on October 27th, and the three-day talks with Peru will begin in Lima on November 3rd. Negotiations on both agreements are underway separately.

India will hold the second round of trade talks with Chile and the eighth round of trade talks with Peru. India and Chile implemented a Preferential Trade Agreement (PTA) in 2006 and are now negotiating to expand its scope to a Comprehensive Economic Partnership Agreement (CEPA).

The CEPA aims to build on the existing PTA between the two countries and cover a wide range of sectors, including digital services, investment promotion and cooperation, micro, Small, and medium-sized enterprises (MSMEs), and critical minerals. Bilateral trade between India and Chile is modest. In 2024-25, India's exports to Chile declined by 2.46 percent to just US$1.15 billion. However, imports increased by 72 percent to US$2.60 billion.

India's largest exports to Chile are auto and pharmaceuticals. Minerals, worth approximately US$1.58 billion, are the largest imports from Chile. Other products imported from Chile include copper and chemicals. Chile is India's fifth-largest trading partner in the LAC (Latin American Countries) region.

India's exports to Chile are diverse and include motor vehicles/cars, pharmaceuticals, chemicals, iron and steel products, man-made yarn, textiles, cotton fabrics, made-ups, RMG (readymade garments), auto components, electrical machinery and equipment, leather goods, rubber products, aluminum and its products, and ceramics. Peru, on the other hand, has emerged as India's third-largest trading partner in the Latin American and Caribbean regions.

India's exports to Peru grew by nearly 9 percent to $1 billion during 2024-25. Imports, on the other hand, increased by 60 percent to $4.98 billion. India's main exports to Peru include motorcycles and three-wheelers, polyester and cotton yarn, pharmaceuticals, iron and steel products, plastic products, rubber, pipes for the oil and gas industry, tires, and pipes. Major imports from Peru are gold, copper, synthetic fibers, calcium phosphate, fresh grapes, and fish meal.