Archive · 6 Nov 2025
India Makes Substantive Progress in Trade Talks with Peru and Chile
India is making great strides in making trade deals with two countries in South America: Peru and Chile.
Think of it like making a special agreement so that buying and selling between these countries becomes easier and better for everyone.
India's trade officials visited Peru and Chile recently to talk about important topics like minerals, medicines, cars, and food.
They are hoping to finish these deals soon, maybe by January 2026.
These agreements are important because India wants to trade more with South America, like a big shopping trip for things it needs, such as special minerals for making green energy.
Peru and Chile are also happy about these talks because they believe it will help their businesses grow.
India's trade with Peru has already gone up a lot, and they see even more room to grow with both countries.
India has achieved "substantive progress" in FTA negotiations with Peru and Chile.
The proposed agreements aim to boost cooperation in critical minerals, pharmaceuticals, automobiles, textiles, and food processing.
Negotiators discussed goods, services, investments, and critical minerals during visits to Chile and Peru from October 27 to November 5.
India seeks to strengthen its presence in Latin America and diversify its trade through these pacts, particularly noting the importance of critical minerals for its green energy transition.
Follow-up intersessional meetings will be held to address pending issues before the next round of negotiations in New Delhi in January 2026.
- Who
- India's negotiating team, Peru's Minister for Trade Teresa Stella Mera Gómez, and Chile's representatives
- What
- Made substantial progress in Free Trade Agreement (FTA) and Comprehensive Economic Partnership Agreement (CEPA) negotiations
- When
- Negotiations took place between October 27 and November 5, with follow-up meetings planned for January 2026 in New Delhi.
- Where
- Chile and Peru for the visits, with upcoming talks in New Delhi.
- Why
- To create new opportunities for cooperation, boost bilateral trade and investment, strengthen India's footprint in Latin America, and secure critical minerals for India's green energy transition.
India
Peru
FTA Negotiation Timeline
India
India's negotiating team visited Peru from October 27 to November 5, aiming to finalize discussions on goods, services, investments, and critical minerals.
Peru
Peru's Minister for Trade Teresa Stella Mera Gómez reaffirmed commitment to timely conclusion of negotiations and expressed optimism for enhanced trade and investment.
Economic Rationale
India
India sees the FTA as important for strengthening its footprint in Latin America, diversifying trade, and securing critical minerals for its green energy transition.
Peru
Peru highlights the complementarity between the economies, believing the pact will enhance trade and investment flows.
- Negotiation Period
- October 27 - November 5
- Next Negotiation Location
- New Delhi, India
- Next Negotiation Date
- January 2026
- Key Areas of Cooperation
- Critical minerals, pharmaceuticals, automobiles, textiles, food processing, goods, services, investments
- India's Exports to Peru (FY25)
- Over $1 billion (9% increase)
- India's Imports from Peru (FY25)
- About $5 billion (60% increase)
- India's Bilateral Trade with Chile (FY25)
- $3.75 billion
- India's Exports to Chile (FY25)
- $1.5 billion
Sources
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