New Delhi, 6 November (H.S.): India is intensifying efforts to expand its trade footprint in Latin America, holding significant meetings with Peru and Chile to advance trade agreements. According to the Ministry of Commerce and Industry, these pacts are anticipated to create new opportunities for India in key sectors, including minerals, pharmaceuticals, automobiles, textiles, and food processing.

The ninth round of negotiations for the India-Peru Trade Agreement was held in Lima, Peru, from November 3 to 5. Officials from both countries made progress on crucial topics such as trade in goods and services, rules of origin, technical barriers, customs procedures, dispute resolution, and critical minerals.

Key participants included Peru's Minister of Foreign Trade and Tourism, Teresa Stella Mera Gomez; Deputy Minister Cesar Augusto Llona Silva; India's Ambassador to Peru, Vishvas Vidu Sapkal; and the head of the Indian delegation, Joint Secretary Vimal Anand.

Minister Gomez noted that the economies of the two nations are complementary and work would continue toward a swift conclusion of the agreement. Ambassador Sapkal stated the pact would provide a new direction for trade and investment, proving beneficial for both countries.

The parties agreed to hold the next round of talks in New Delhi in January 2026.Prior to this, from October 27 to 30, the third meeting for the India-Chile Comprehensive Economic Partnership Agreement (CEPA) took place in Santiago, Chile.

Discussions centered on trade in goods and services, investment, intellectual property rights, technical standards, economic cooperation, and critical minerals. Both nations expressed confidence in finalizing the agreement promptly to enhance market access and strengthen supply chains.

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Hindusthan Samachar / Jun Sarkar