India, Chile to start talks for comprehensive trade pact: PM

India and Chile discuss trade pact, deepen relations, and cooperate on critical minerals and international disputes for mutual benefit.

India and Chile have started discussions on a “mutually beneficial and comprehensive” trade pact, Prime Minister Narendra Modi announced on Tuesday (April 1, 2025). This came after state-owned copper mining firms from the two countries signed an agreement that will expand Chile’s access to the mining market in India.

While welcoming Chilean President Gabriel Boric Font, the Prime Minister also raised current international disputes, and said they should be resolved peacefully through dialogue.

“In today’s discussion, we have identified several new initiatives that will deepen relations over the next decade. Today, we have instructed our teams to start negotiation on a mutually beneficial comprehensive economic agreement. Cooperation on critical minerals will be prioritised, necessary work will be done on resilient supply and value chains,” Mr. Modi said.

The two countries signed three MoUs and an agreement during the event held at the Hyderabad House, and also concluded an ‘Agreement for Cooperation and Exchange of Information between National Copper Corporation of Chile, CODELCO, and Hindustan Copper Limited’.

“It will help us identify and implement joint activities, including a strategic partnership in the sphere of exploration of mining properties, meaning the mines, and mineral beneficiation through sharing of experiences and knowledge, allowing both sides to enhance their capabilities,” said P. Kumaran, Secretary (East) in the Ministry of External Affairs. Chile’s State-owned CODELCO is the world’s largest copper producer, and has been in talks with Indian stakeholders to expand its market in India as it has been trying to cut its reliance on the Chinese market in recent years.

“India is ready to share its experience on digital public infrastructure, renewable energy, railways, space and other areas,” Mr. Modi said. He also described Chile as the “gateway to Antarctica” and the two sides signed a letter of intent on Tuesday (April 1, 2025) that will deepen bilateral cooperation in exploring Antarctica.

“It’s a matter of happiness that the Chilean people have accepted Yoga as part of a healthy lifestyle. We are inspired by the fact that Chile has announced November 4 as their national Yoga day,” the Prime Minister said.