Archive · 1 Aug 2025
India Eyes Trade Expansion with Latin America Amid Global Slowdown
India is trying to make trade easier with countries in Latin America.
They are talking to a group called MERCOSUR about making their current trade deal even better, which would help Indian businesses.
They also want to find ways to get important resources like oil and minerals from Latin American countries.
The goal is to help India's economy grow and to make sure they have access to the supplies they need.
India is also working with countries like Peru and Chile to make trade easier.
India is exploring trade expansion with Latin America to offset economic slowdown.
A trade delegation will meet with MERCOSUR to discuss upgrading the Preferential Trade Agreement (PTA) to a Free Trade Agreement (FTA).
India aims to secure supply chains for critical minerals and petroleum products with Latin American trade deals.
India seeks duty concessions for engineering goods exports to Latin American countries.
Talks are underway with Peru and Chile to expand trade cooperation.
- Who
- The Indian government and trade delegations are involved in discussions with MERCOSUR and individual Latin American nations.
- What
- India is pursuing trade expansion with Latin American countries, aiming to convert existing PTAs into FTAs and secure supply chains.
- When
- Negotiations are ongoing, with plans for FTA discussions and talks with specific countries in 2024 and 2025.
- Where
- India is focusing on Latin American countries, particularly those in MERCOSUR, Peru, and Chile.
- Why
- To offset economic slowdown, secure supply chains, and gain access to new markets for Indian exporters.
- MERCOSUR PTA
- Exists since 2004, covering 450 tariff lines
- MERCOSUR Economy
- $2.94 trillion
- South America Economy
- $4.38 trillion
- Talks with Peru
- Aiming for FTA conclusion in 2025
- Talks with Chile
- 1st round of FTA negotiations held in May 2025