India has taken another major step toward strengthening economic ties with Latin America, successfully concluding two key rounds of trade negotiations with Peru and Chile. These talks reaffirm India’s commitment to diversifying trade partnerships and enhancing cooperation in emerging sectors such as critical minerals, pharmaceuticals, and technology.
India–Peru Trade Agreement
- The 9th Round of India–Peru Trade Agreement negotiations was held in Lima, Peru, from 3rd to 5th November 2025.
- Discussions achieved progress across several areas — including Trade in Goods and Services, Rules of Origin, Customs Procedures, Technical Barriers to Trade, and Dispute Settlement.
- The Indian delegation was led by Shri Vimal Anand, Joint Secretary and Chief Negotiator, and H.E. Shri Vishvas Vidu Sapkal, Ambassador of India to Peru.
- The Peruvian side was represented by H.E. Ms. Teresa Stella Mera Gómez, Minister of Foreign Trade and Tourism, and H.E. Mr. César Augusto Llona Silva, Vice Minister of Foreign Trade.
- Both sides agreed to hold intersessional meetings before the next round scheduled in New Delhi in January 2026 to resolve pending issues.
India–Chile CEPA Negotiations
- The 3rd Round of the India–Chile Comprehensive Economic Partnership Agreement (CEPA) negotiations took place in Santiago, Chile, from 27th to 30th October 2025.
- Deliberations covered multiple chapters, including Trade in Goods and Services, Investment Promotion, Rules of Origin, Intellectual Property Rights, TBT/SPS measures, Economic Cooperation, and Critical Minerals.
- Both countries reiterated their commitment to a time-bound conclusion of the CEPA, which aims to enhance market access, supply chain resilience, and regional integration.
Significance
- India’s growing engagement with Peru and Chile underscores its strategic focus on building robust economic linkages with Latin America.
- These negotiations align with India’s vision of expanding global trade partnerships, fostering mutually beneficial growth, and strengthening the resilience of global value chains.
- The agreements are expected to open new avenues in sectors like critical minerals, automobiles, textiles, food processing, and services, marking a milestone in India’s pursuit of a diversified and future-ready trade network.
