PTA Negotiations Between India-Chile and Peru To Be Held In October, November
The CEPA, however, aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, micro, small and medium enterprises (MSMEs), and critical minerals
New Delhi: Amid hope of the US tariff relaxation for Indian goods, the next round of negotiations between India and two South American countries -- Chile and Peru -- will be held in October and November , respectively. Both agreements are being negotiated separately as the five-day talks with Chile will start on October 27 in Santiago, while the three-day deliberations with Peru will begin on November 3 in Lima, according to an official.
Earlier, India had the first round of talks with Chile, and the second round is likely to be held by October end, the eighth round of negotiations with Peru will be held in early November. India and Chile implemented a preferential trade agreement (PTA) in 2006 and are now negotiating to widen its scope for a comprehensive economic partnership agreement (CEPA).
The CEPA, however, aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, micro, small and medium enterprises (MSMEs), and critical minerals.
As per the latest government data, India’s exports to Chile were down 2.46 per cent to just $1.15 billion in 2024-25 and imports, however, grew 72 per cent to $2.60 billion. The largest Indian exports to Chile are auto and pharma products. The biggest import from Chile is minerals worth around $1.58 billion. Other products imported from Chile are copper and chemicals.
However, India’s exports to Chile are diversified and constitute motor vehicles and cars, drug formulations, chemicals, iron and steel products, man-made yarn, fabrics, cotton fabrics, made-ups, RMG (ready-made garments), auto components, electric machinery and equipment, leather goods, rubber products, aluminium and its products, and ceramics. On the other hand, Peru has emerged as the third-largest trading partner of India in the Latin American and Caribbean regions.
During 2024-25, India’s exports to Peru rose by about 9 per cent to $1 billion, while imports grew 60 per cent to $4.98 billion. India’s main exports to Peru include motorcycles and three-wheelers, polyester and cotton yarns, pharmaceuticals, iron and steel products, plastic products, rubber, pipes for the oil and gas industry, tyres, pipes, etc. Main imports from Peru are gold, copper, synthetic filaments, phosphates of calcium, fresh grapes, and fish flour.
