India and Chile Lay Groundwork for CEPA Talks, Eyeing Stronger Trade Ties

India and Chile have taken a significant step toward deepening their economic partnership with the signing of the Terms of Reference for a Comprehensive Economic Partnership Agreement. The agreement sets the stage for formal negotiations aimed at expanding bilateral trade and investment cooperation.  

The first round of CEPA negotiations is scheduled to take place in New Delhi from May 26 to 30. The agreement builds upon the existing Preferential Trade Agreement and seeks to cover a broader range of sectors, including digital services, investment promotion, MSME collaboration, and critical minerals.  

Chile’s deposits of copper and lithium are expected to play a crucial role in India’s industrial growth and sustainable energy transition. Indian firms are exploring joint ventures and long-term supply agreements to establish a strong mineral supply chain.  

The momentum for CEPA negotiations was reinforced during Chilean President Gabriel Boric Font’s state visit to India in April, where both nations reaffirmed their commitment to strengthening economic ties. Leaders emphasized the importance of an enhanced trade framework to unlock new opportunities for growth.  

Sources: Business Standard, BusinessWorld, Hindustan Times, Economic Times, The Hindu, MSN India, Press Information Bureau, NewsX, Devdiscourse