India Advances Trade Pact Talks with Peru and Chile
India has made substantive progress in trade negotiations with Peru and Chile, focusing on key areas such as trade in goods and services, critical minerals, customs procedures, and dispute settlement. These talks aim to diversify India's export markets amid rising US tariffs and strengthen economic ties with Latin America, with further rounds scheduled for January 2026.
India has conducted significant rounds of trade negotiations with Peru and Chile to broaden its export markets and secure critical minerals essential for its industrial and energy sectors. The ninth round of India-Peru trade talks held in Lima from November 3 to 5, 2025, saw substantial advancements in trade in goods and services, rules of origin, technical barriers, customs procedures, dispute settlement, and cooperation on critical minerals. Both nations emphasized the complementarity of their economies and expressed optimism about increasing trade and investment flows. India and Chile completed the third round of talks for a Comprehensive Economic Partnership Agreement in Santiago in late October, covering investment promotion, intellectual property rights, and supply chain resilience. These efforts respond to US tariffs imposed on Indian goods, encouraging India to diversify its export destinations beyond the US and Europe. Latin American countries potentially absorb up to 20% of India’s exports to the US, particularly in pharmaceuticals, textiles, engineering goods, and processed foods. Upcoming intersessional meetings aim to resolve outstanding issues before the next India-Peru negotiation round planned in New Delhi in January 2026. The agreements reflect India’s strategic pivot towards Latin America for economic cooperation and critical mineral security.
