India, Chile to start out talks for complete commerce pact: PM

Prime Minister Narendra Modi and President of Chile, Gabriel Boric Font witness an trade of MoU in the course of the joint press assertion, at Hyderabad Home in New Delhi on April 1, 2025 | DPR PMO through ANI

India and Chile have began discussions on a “mutually useful and complete” commerce pact, Prime Minister Narendra Modi introduced on Tuesday (April 1, 2025). This got here after state-owned copper mining corporations from the 2 international locations signed an settlement that can broaden Chile’s entry to the mining market in India.

Whereas welcoming Chilean President Gabriel Boric Font, the Prime Minister additionally raised present worldwide disputes, and mentioned they need to be resolved peacefully by way of dialogue.

“In at this time’s dialogue, we have now recognized a number of new initiatives that can deepen relations over the following decade. At present, we have now instructed our groups to start out negotiation on a mutually useful complete financial settlement. Cooperation on vital minerals can be prioritised, crucial work can be carried out on resilient provide and worth chains,” Mr. Modi mentioned.

Mining deal

The 2 international locations signed three MoUs and an settlement in the course of the occasion held on the Hyderabad Home, and likewise concluded an ‘Settlement for Cooperation and Trade of Info between Nationwide Copper Company of Chile, CODELCO, and Hindustan Copper Restricted’.

“It can assist us determine and implement joint actions, together with a strategic partnership within the sphere of exploration of mining properties, that means the mines, and mineral beneficiation by way of sharing of experiences and information, permitting each side to reinforce their capabilities,” mentioned P. Kumaran, Secretary (East) within the Ministry of Exterior Affairs. Chile’s State-owned CODELCO is the world’s largest copper producer, and has been in talks with Indian stakeholders to broaden its market in India because it has been attempting to chop its reliance on the Chinese language market in recent times.

Gateway to Antarctica

“India is able to share its expertise on digital public infrastructure, renewable power, railways, house and different areas,” Mr. Modi mentioned. He additionally described Chile because the “gateway to Antarctica” and the 2 sides signed a letter of intent on Tuesday (April 1, 2025) that can deepen bilateral cooperation in exploring Antarctica.

“It’s a matter of happiness that the Chilean folks have accepted Yoga as a part of a wholesome way of life. We’re impressed by the truth that Chile has introduced November 4 as their nationwide Yoga day,” the Prime Minister mentioned.

President Boric arrived right here early Tuesday (April 1, 2025) morning and met Exterior Affairs Minister S. Jaishankar earlier than continuing to Hyderabad Home the place the 2 sides sat down for delegation-level talks. “Now we have come right here to consolidate seven many years of relationship with India,” Mr. Boric mentioned.

UNSC reform wanted

India and Chile have additionally agreed to extend their cooperation on worldwide points and disputes. Although Chile has disputes with neighbours resembling Peru and Argentina, its function in crisis-solving has been famous in recent times due to its function within the Ukraine-Russia battle. Mr. Boric has condemned Russia’s navy marketing campaign in opposition to Ukraine and was among the many individuals of a peace summit in Switzerland final June. The summit, which noticed the participation of 100 international locations, was organised across the Ukrainian peace components that sought the entire withdrawal of Russian forces from Ukraine.

“On the world stage, our two sides agree that such disputes must be resolved by way of dialogue. We’re unanimous on the truth that so as to resolve such crises, reform within the UN Safety Council is critical,” mentioned Mr. Modi.