The Daily PulseGeneral
India and Chile kick off talks on comprehensive trade pact after copper deal
Reported by Aditya Chauhan (Staff Writer) · The Hindu - National ·
Reported by one source so far
India and Chile have begun negotiations on a mutually beneficial comprehensive trade agreement, announced by Prime Minister Narendra Modi on April 1, 2025, following the signing of a copper cooperation deal between state‑owned CODELCO and Hindustan Copper Ltd.
Agreements Signed
Three memoranda of understanding and an information‑exchange agreement were signed at Hyderabad House. The agreement will enable joint exploration of mining properties, mineral beneficiation and sharing of technical know‑how, said P. Kumaran, Secretary (East) in the Ministry of External Affairs.
Strategic Context
CODELCO, the world’s largest copper producer, is looking to cut its reliance on the Chinese market, and sees India as a new avenue for its copper exports. India, in turn, offered to share expertise in digital public infrastructure, renewable energy, railways and space technology.
Antarctica Cooperation
Modi described Chile as the "gateway to Antarctica" and both sides signed a letter of intent to deepen bilateral cooperation in Antarctic exploration.
High‑Level Visits
Chilean President Gabriel Boric met External Affairs Minister S. Jaishankar before the talks and said the visit aims to consolidate seven decades of India‑Chile friendship. Boric also highlighted Chile’s role in international peace efforts, citing its condemnation of Russia’s war in Ukraine and participation in a Swiss peace summit attended by 100 countries.
Global Issues
Both leaders agreed that international disputes should be settled through dialogue and called for reforms in the UN Security Council. Modi reiterated India’s readiness to collaborate on critical minerals and resilient supply chains over the next decade.
ExplainerWhy this matters
What Happened
India and Chile started talks on a comprehensive trade pact after their state‑run copper firms signed an agreement to boost Chilean copper sales in India.
Why It Matters
The deal gives Chile a foothold in a large, growing market, helping it move away from heavy reliance on China for copper exports. For India, securing copper supplies supports its push for renewable energy and electric‑vehicle production, which need steady metal inputs. The broader pact also ties the two countries together on critical minerals, digital infrastructure and even Antarctic research, signalling deeper strategic partnership in a region where both seek influence.
What Happens Next
Negotiations will move forward on the detailed trade agreement, covering tariffs, investment rules and supply‑chain resilience. Both sides will likely set up joint working groups for mining, technology sharing and Antarctic projects. Observers will watch for any formal signing later in the year and for how the partnership may affect global copper trade patterns, especially China's role.
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