Why India is pursuing trade deals with Peru, Chile
India is moving quickly to seal new trade agreements with Peru and Chile, aiming to find fresh markets for its exports after the US slapped steep tariffs.
Recent rounds of talks wrapped up in Lima and Santiago, with both Latin American countries seen as promising partners who could take on a big chunk of what India used to sell to the US.
Redirecting exports and meeting resource needs
With US tariffs now hitting Indian goods like textiles, chemicals, and auto parts—sometimes by as much as 50%—India needs new buyers.
Deals with Peru, Chile, and Mexico could redirect about $17 billion in exports their way.
Plus, these countries have resources like copper and lithium that match India's tech and energy needs.
Trade is already growing: last year alone (2024-25), India exported $1.15 billion to Chile, $1.00 billion to Peru while imports from the region surged, hinting at stronger ties ahead.