India and Chile close to FTA on copper and services
Business
India and Chile are close to signing a free trade agreement, expected by the end of 2026.
The big goal? Making it easier for India to get copper, crucial for electric vehicles and clean energy projects.
The deal also promises smoother trade in services, investments, and covers movement of people between the two countries.
Trade worth $5.6B dominated by copper
Right now, most of the $5.6 billion in trade between India and Chile is all about copper ore from Chile and cars or machinery from India.
With this FTA, both countries want to go beyond just goods: think more products, better tariff deals, and fresh opportunities in mining.
Plus, Indian investment could help boost Chile's mining sector while meeting India's growing need for copper as it pushes toward greener tech.