Juan Angulo, Ambassador of Chile to India|Picture Credit: T E Raja Simhan
India and South American nation Chile, have actually gone into the last of settlements for a thorough financial collaboration contract, with both sides wishing to conclude the pact by the end of this year, Juan Angulo, Ambassador of Chile to India, stated.
The proposed Free Trade Agreement (FTA) with the world’s biggest copper manufacturer Chile might assist deepen long-lasting supply linkages of the crucial metal. The South American nation is seeking to place itself as a trustworthy partner for India’s growing requirements of copper.
Angulo stated the proposed arrangement is anticipated to considerably broaden the scope of the existing preferential trade plan in between the 2 nations by covering services, financial investment and motion of individuals, besides broadening market gain access to for items, he stated, on the sidelines of 216th anniversary of Chile’s Independence reception hosted by Sunita Shahaney, Honorary Consul of Chile on Monday night.
Copper was currently Chile’s essential export to India, mostly in the kind of ore and focuses, and need from India was anticipated to increase greatly on the back of financial investments in electrical lorries, information centres, real estate and power facilities. “India will require copper– for EVs, for remodelling, for information centres,” Angulo stated, including that the growth of information centres and real estate would produce substantial extra need for the metal.
Bilateral trade
Bilateral trade in between Chile and India has actually increased to around $5.6 billion from about $2.4 billion 5 to 6 years back. Chile’s exports to India are controlled by copper ore and focuses, other minerals, fruits and nuts, while India exports vehicles, equipment and car elements to Chile.
The 2 nations are presently working out a detailed financial collaboration contract, which would broaden the scope of their existing preferential trade arrangement. 4 rounds of settlements have actually been finished given that talks started in May 2025, with the conversations now in the last, he stated.
The proposed pact is likewise anticipated to have a devoted chapter on important minerals, making copper an essential part of the wider financial relationship. Angulo stated both nations were concentrated on important minerals throughout the settlements, although he did not reveal the particular market-access demands being made by either side.
Line of product
The existing arrangement covers around 2,500 line of product, and Chile is looking for to considerably broaden this basket while likewise deepening tariff choices on items currently covered.
For Chile, nevertheless, the unbiased exceeds increasing deliveries of copper to India.
Angulo stated the nation wished to establish incorporated worth chains and bring in Indian financial investment, arguing that long-lasting financial investments might develop more steady relationships than easy product purchases.
“If the worth chains are incorporated, then it is harder” to move providers, he stated, highlighting the significance of long-lasting relationships in crucial minerals.
He stated Chile was open to Indian business purchasing its mining sector and indicated the nation’s recognized mining environment and regulative structure. Chile likewise has considerable mineral resources, however Angulo worried that exploitation required to be sustainable and supported by institutional stability and access to markets and financing.
India’s copper requirement is anticipated to extend beyond standard commercial usages as electrification, renewable resource, electrical movement and digital facilities broaden. Angulo likewise indicated the big financial investments being made in refineries, which would contribute to the requirement for guaranteed long-lasting copper products.
Released on September 22, 2026