India-Chile CEPA talks: Piyush Goyal reviews trade deal progress
Synopsis
India and Chile are pushing to accelerate their Comprehensive Economic Partnership Agreement, with Commerce Minister Piyush Goyal and Chilean Foreign Minister Francisco Perez Mackenna reviewing progress over a bilateral breakfast meeting in New Delhi. With Chile's critical mineral wealth and India's manufacturing ambitions converging, this CEPA could be more strategically significant than a routine trade pact.
Key Takeaways
Commerce Minister Piyush Goyal met Chilean Foreign Minister Francisco Perez Mackenna on 12 May 2025 in New Delhi .
Both sides reviewed progress of the proposed India-Chile CEPA and discussed deepening trade, investment, and strategic ties.
Chile is an important partner for India in minerals, energy, agriculture, and services .
The proposed CEPA aims to enhance market access, reduce trade barriers, and boost bilateral investments.
India is actively pursuing multiple trade agreements to diversify supply chains amid global economic uncertainties.
Union Commerce and Industry Minister Piyush Goyal on Tuesday, 12 May said India and Chile reviewed the progress of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) and discussed ways to further strengthen bilateral trade, investment, and strategic cooperation. The discussions were held over a breakfast meeting in New Delhi with Chile's Foreign Minister Francisco Perez Mackenna and members of the Chilean delegation.
What Was Discussed
Goyal said the meeting covered the current status of CEPA negotiations and explored avenues to deepen trade, investment, and strategic ties. "We reviewed the progress of CEPA negotiations and discussed ways to further deepen our trade, investment, and strategic partnership," the minister said. He added that India values its longstanding partnership with Chile and remains committed to expanding economic engagement and people-to-people ties for shared growth and prosperity.
Why the Talks Matter
The discussions come at a time when India is actively pursuing multiple trade agreements with key global partners to strengthen exports, attract investments, and diversify supply chains amid global economic uncertainties. Chile has emerged as an important partner in sectors such as minerals, energy, agriculture, and services — areas where the two nations have complementary strengths. The proposed CEPA is expected to enhance market access, reduce trade barriers, and boost bilateral investments between the two nations.
India's Broader Latin America Push
India has been steadily expanding its trade footprint in Latin America, with Chile serving as a key gateway to the region. This engagement fits into a wider government strategy to promote India as a global manufacturing and export hub. Notably, last week Goyal held a series of meetings with global industry leaders and senior officials to explore new opportunities for trade and investment, signalling the pace at which New Delhi is accelerating its outreach.
What Comes Next
While no timeline for concluding the CEPA was announced, the renewed ministerial-level engagement suggests both sides are keen to move negotiations forward. With Chile holding significant reserves of lithium and copper — critical minerals for India's clean energy and electronics ambitions — a comprehensive deal could carry strategic weight well beyond conventional trade metrics. The next round of formal negotiations is expected to build on the framework discussed during this bilateral meeting.
Point of View
Two critical minerals at the heart of India's electric vehicle and semiconductor ambitions. A CEPA that secures preferential access to Chilean minerals would do more for India's industrial future than most headline trade deals. The question is whether New Delhi is negotiating with that strategic lens or defaulting to the standard market-access template that has stalled several of its other trade agreements.
NationPress
3 Jul 2026
Frequently Asked Questions
What is the India-Chile CEPA?
The India-Chile Comprehensive Economic Partnership Agreement (CEPA) is a proposed bilateral trade deal aimed at enhancing market access, reducing trade barriers, and boosting investments between the two countries. Negotiations have been ongoing, with both sides recently reviewing progress at a ministerial level meeting in New Delhi on 12 May 2025.
Who represented India and Chile at the 12 May 2025 meeting?
India was represented by Union Commerce and Industry Minister Piyush Goyal, while Chile's side was led by Foreign Minister Francisco Perez Mackenna along with members of the Chilean delegation. The discussions were held over a breakfast meeting in New Delhi.
Why is Chile an important trade partner for India?
Chile is a significant partner for India in sectors such as minerals, energy, agriculture, and services. It holds the world's largest lithium reserves and is a major copper producer — critical materials for India's clean energy and electronics manufacturing goals.
How does the India-Chile CEPA fit into India's broader trade strategy?
India is actively pursuing multiple trade agreements globally to strengthen exports, attract investment, and diversify supply chains amid global economic uncertainties. The India-Chile CEPA is part of a wider push to expand India's trade footprint in Latin America and position the country as a global manufacturing and export hub.
When is the India-Chile CEPA expected to be finalised?
No specific timeline for concluding the CEPA has been announced as of 12 May 2025. However, the renewed ministerial-level engagement suggests both sides are committed to accelerating negotiations, with formal talks expected to build on the framework discussed during this bilateral meeting.
