India and Chile begin work on comprehensive trade agreement
India and Chile have instructed their teams to begin negotiations on a comprehensive economic agreement, with critical minerals and resilient supply chains identified as priorities. The announcement followed agreements between state-owned copper companies and a decision to deepen cooperation on Antarctica exploration and other sectors.
India and Chile have begun discussions on a “mutually beneficial and comprehensive” trade agreement, Prime Minister Narendra Modi said after talks with Chilean President Gabriel Boric Font on April 1, 2025. The two leaders directed their teams to begin negotiations on a comprehensive economic agreement. Mr.
Modi said cooperation on critical minerals would be prioritised and that the countries would work on resilient supply and value chains. The announcement followed the signing of an agreement between Chile’s state-owned National Copper Corporation, known as CODELCO, and Hindustan Copper Limited. The arrangement is intended to support joint activities in mining exploration and mineral beneficiation through the exchange of knowledge and experience.
P. Kumaran, Secretary (East) in the Ministry of External Affairs, said the agreement could help both companies identify and implement activities that strengthen their capabilities. CODELCO is the world’s largest copper producer and has been seeking to expand its presence in India while reducing reliance on the Chinese market.
India and Chile signed three memorandums of understanding and an agreement during the leaders’ meeting. The countries also signed a letter of intent to deepen cooperation in the exploration of Antarctica. Mr.
Modi described Chile as a gateway to Antarctica and said India was ready to share experience in digital public infrastructure, renewable energy, railways and space. He also noted Chile’s adoption of November 4 as a national Yoga day. President Boric said his visit was intended to consolidate seven decades of relations with India.
Before meeting Mr. Modi, he held discussions with External Affairs Minister S. Jaishankar.
The two countries also agreed to expand cooperation on international issues and disputes. Mr. Modi said both sides believed crises should be resolved through dialogue and that reform of the United Nations Security Council was necessary.
Mr. Boric has criticised Russia’s military campaign against Ukraine and participated in a peace summit in Switzerland. The source material said Chile’s role in efforts connected with the conflict had been noted in recent years.
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