Latest news with #India-Chile
Time of India
22-05-2025
- Business
- Time of India
India to seek lithium and copper under new trade tie from Chile to power clean energy and industrial growth, says experts
NEW DELHI: India may seek a stable supply of lithium and copper through the expanded new trade tie with Chile to boost its clean energy targets and industrial growth says experts. As India undergoes rapid industrial expansion and transitions toward cleaner energy sources, the demand for critical minerals like lithium and copper is expected to grow significantly. These minerals are essential for achieving India's clean energy targets, strengthening its manufacturing sector, and building robust infrastructure. Chile is one of the world's leading producers of lithium and copper, stands out as a strategic trade partner. This collaboration aligns with India's broader objectives of achieving energy security and expanding its electric vehicle (EV) ecosystem. "The India-Chile CEPA (Comprehensive Economic Partnership Agreement) enhances India's commodity security, export competitiveness, and access to future minerals," said Ajay Kedia , Director at Kedia Commodities in Mumbai. Chile plays a dominant role in the global lithium supply chain. According to the United States Geological Survey, Chile holds the world's largest lithium reserves, estimated at 9.3 million tons, and ranks third in total lithium resources after Bolivia and Argentina. Recent studies from Chile's northern Antofagasta salt flats suggest the country's lithium resources may be 28 per cent higher than previously estimated, further boosting its importance. Live Events Copper is equally critical for India, especially in sectors such as EV manufacturing, renewable energy systems, and electrical infrastructure. As the EV market expands, copper is increasingly used in batteries, motors, wiring, and charging infrastructure. India's reliance on a steady supply of these resources is reflected in its industrial activity. Domestic manufacturers across EV, battery, energy storage, and electrical equipment sectors are scaling up production to support clean energy goals. Copper, in particular, remains a key input for wire and cable manufacturing, automotive systems, and power transmission networks. Ajay Kedia believes that securing a stable mineral supply and boosting trade across Latin America through the CEPA will enable India to strengthen its position in global supply chains and drive long-term economic growth. "It strengthens India's position in the global supply chain for energy transition, offers new markets for Indian industries, and aligns with long-term national goals like Make in India and green mobility," he added. India and Chile are preparing to launch negotiations under the Comprehensive Economic Partnership Agreement. Following the finalisation of the terms of reference on May 9, talks are set to begin by May 26. The agreement is expected to enhance trade cooperation, particularly in critical sectors like minerals and clean energy.
India Gazette
21-05-2025
- Business
- India Gazette
India to seek lithium and copper under new trade tie from Chile to power clean energy and industrial growth, says experts
By Daksh Grover New Delhi [India] May 21 (ANI): India may seek a stable supply of lithium and copper through the expanded new trade tie with Chile to boost its clean energy targets and industrial growth says India undergoes rapid industrial expansion and transitions toward cleaner energy sources, the demand for critical minerals like lithium and copper is expected to grow significantly. These minerals are essential for achieving India's clean energy targets, strengthening its manufacturing sector, and building robust is one of the world's leading producers of lithium and copper, stands out as a strategic trade partner. This collaboration aligns with India's broader objectives of achieving energy security and expanding its electric vehicle (EV) ecosystem.'The India-Chile CEPA (Comprehensive Economic Partnership Agreement) enhances India's commodity security, export competitiveness, and access to future minerals,' said Ajay Kedia, Director at Kedia Commodities in Mumbai. Chile plays a dominant role in the global lithium supply chain. According to the United States Geological Survey, Chile holds the world's largest lithium reserves, estimated at 9.3 million tons, and ranks third in total lithium resources after Bolivia and Argentina. Recent studies from Chile's northern Antofagasta salt flats suggest the country's lithium resources may be 28 per cent higher than previously estimated, further boosting its is equally critical for India, especially in sectors such as EV manufacturing, renewable energy systems, and electrical infrastructure. As the EV market expands, copper is increasingly used in batteries, motors, wiring, and charging reliance on a steady supply of these resources is reflected in its industrial activity. Domestic manufacturers across EV, battery, energy storage, and electrical equipment sectors are scaling up production to support clean energy goals. Copper, in particular, remains a key input for wire and cable manufacturing, automotive systems, and power transmission Kedia believes that securing a stable mineral supply and boosting trade across Latin America through the CEPA will enable India to strengthen its position in global supply chains and drive long-term economic growth.'It strengthens India's position in the global supply chain for energy transition, offers new markets for Indian industries, and aligns with long-term national goals like Make in India and green mobility,' he and Chile are preparing to launch negotiations under the Comprehensive Economic Partnership Agreement. Following the finalisation of the terms of reference on May 9, talks are set to begin by May 26. The agreement is expected to enhance trade cooperation, particularly in critical sectors like minerals and clean energy. (ANI)
The Hindu
09-05-2025
- Business
- The Hindu
India, Chile sign terms of reference for new trade deal
Even as India has finalised negotiations for the FTA with the U.K. and talks are underway on several other similar agreements, the government on Friday (May 9, 2025) announced it has signed the terms of reference with Chile for a Comprehensive Economic Partnership Agreement (CEPA). The mutually agreed terms were signed by Juan Angulo, Ambassador of Chile in India, and Vimal Anand, joint secretary in the Ministry of Commerce and Industry. Mr. Anand is also the chief negotiator for the India-Chile CEPA on behalf of India. 'The CEPA aims to build upon the existing PTA (Preferential Trade Agreement) between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME, critical minerals etc. thereby enhancing economic integration and cooperation,' the government said in a release. India's bilateral trade with Chile stood at $3.6 billion in 2024-25 as of February 2025. This is double the $1.8 billion of trade between the two countries in 2016-17, the earliest period for which there is data. However, India maintains a trade deficit with Chile, with the deficit at around $2.5 billion in 2024-25.
Hindustan Times
09-05-2025
- Business
- Hindustan Times
India, Chile to start negotiations for free trade deal on May 26
NEW DELHI: India will start negotiations for a free trade agreement with mineral-rich Chile from May 26 in New Delhi, the commerce ministry said on Friday, a day after the two countries signed the terms of reference (ToR) for a comprehensive economic partnership agreement (CEPA). The two countries reiterated their shared vision for strengthening bilateral relations and look forward to fruitful discussion during the first round of talks during May 26-30, in New Delhi, a commerce ministry statement said on Friday. The ToR was signed by Ambassador of Chile in India Juan Angulo and commerce ministry's joint secretary Vimal Anand, who is also the chief negotiator for India-Chile CEPA negotiations representing the Indian side. Bilateral merchandise trade between India and Chile was only about $2.7 billion in 2023-24 but the two countries expect a huge jump on account of Chile's deposits of copper, lithium, and other critical minerals needed by India for industrial growth and sustainable energy transition. A government official said a free trade deal between the two countries will help India meet the demand for critical minerals. These minerals are of strategic importance for sectors such as electric mobility, renewable energy, and electronics manufacturing, he said. Indian firms are also looking at joint ventures and long-term supply agreements to establish a strong mineral supply chain. Chile is a global leader in copper and lithium production, he added. The proposed CEPA aims to build upon the existing Preferential Trade Agreement (PTA) between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, micro small and medium enterprises (MSME), and critical minerals, thereby enhancing economic integration and cooperation, the commerce ministry said. India and Chile signed a framework agreement on economic cooperation in January 2005, followed by a PTA in March 2006. An expanded PTA was signed in September 2016 and became effective from May 16, 2017. In April, 2019, the two countries agreed to pursue a further expansion of the PTA with three rounds of negotiations during 2019-2021, it said. To deepen their economic engagement, both sides expressed their intention to negotiate a CEPA to unlock the full potential of their trade and commercial relationship, boosting employment, facilitating investment promotion, and cooperation and exports, as suggested by the joint study group (JSG) established under the framework agreement. The JSG report was finalised and signed on April 30, 2024, the ministry said. This shared vision was reaffirmed during the recent state visit of Chilean President Gabriel Boric Font to India on April 1-5, 2025 on an invitation from Prime Minister Narendra Modi. Chile is India's 5th largest trading partner in the Latin America and the Caribbean (LAC) region. India's exports to Chile are diversified and constitute motor vehicles, drug formulations, chemicals, products of iron and steel, man-made yarn, fabrics, cotton fabrics, garments, accessories, auto components, electric machinery, leather goods, rubber products, bulk drugs, drug intermediates, footwear of leather, iron and steel, aluminium & its product, ceramics and allied products.
India Gazette
09-05-2025
- Business
- India Gazette
India, Chile sign Terms of Reference for economic agreement; Critical minerals an important part of talks
New Delhi [India], May 9 (ANI): India and Chile took a major step forward in strengthening their economic partnership by signing the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA). The Ministry of Commerce & Industry said in a statement on Friday that this agreement marks a new chapter in trade relations between the two countries. The ToR was signed by Juan Angulo, Ambassador of Chile to India, and Vimal Anand, Joint Secretary in the Department of Commerce, who is also the Chief Negotiator for India-Chile CEPA from the Indian side. The signing of the ToR reflects the shared vision of both countries to deepen bilateral ties and promote economic cooperation. The Ministry said, 'India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA) on 08 May 2025, marking a significant advancement in their bilateral trade relations'. It also added 'The CEPA aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME, critical minerals etc. thereby enhancing economic integration and cooperation'. The first round of CEPA negotiations is scheduled to take place from May 26 to 30, 2025, in New Delhi. Both countries expressed their commitment to working together towards a fruitful and comprehensive agreement. Critical minerals will be an important part of the CEPA discussions, as they are essential for sectors like semiconductors, electric vehicle batteries, and robotics -- all of which are gaining importance in the global economy. These efforts are expected to enhance economic integration and cooperation between the two nations. India and Chile have shared warm and cordial relations for many years. A Framework Agreement on Economic Cooperation was signed in January 2005, followed by the signing of a PTA in March 2006. The PTA was later expanded in September 2016 and came into effect in May 2017. From 2019 to 2021, both sides held three rounds of negotiations to further expand the PTA. To take their economic relationship to the next level, both countries decided to move towards a CEPA. This decision was based on the recommendations of the Joint Study Group (JSG) formed under the 2005 Framework Agreement. The JSG report was finalized and signed on April 30, 2024. The momentum for CEPA gained further support during the State visit of Chilean President Gabriel Boric Font to India from April 1 to 5, 2025, at the invitation of Prime Minister Narendra Modi. During the visit, leaders from both sides recognized the vital role of trade and commerce in their bilateral relationship. They also welcomed the launch of CEPA negotiations and stressed the importance of creating a balanced, ambitious, and mutually beneficial agreement that would unlock new opportunities for growth and cooperation. (ANI)
