This article covers trade and investment between India and Chile, the Preferential Trade Agreement and the negotiations for a Comprehensive Economic Partnership Agreement, and cooperation in pharmaceuticals, defence, space and other fields. It is based on the MEA brief of June 2026, which has no separate section on development partnership, so its material on defence and space cooperation is also covered here.
Bilateral trade
According to the MEA brief of June 2026, Chile is the 5th largest trading partner of India in the LAC region. Bilateral trade increased from USD 3.84 bn in 2024 to USD 5.38 bn in 2025.
In 2024, exports to Chile were USD 1.24 bn and imports from Chile were USD 2.59 bn. In 2025, Indian exports to Chile increased to USD 1.41 billion, a 14% increase, while imports from Chile increased to USD 3.97 billion, a 53% increase. The brief attributes the rise in imports mainly to increased gold imports from Chile.
Main items traded
India's exports to Chile comprise automobiles, pharmaceuticals, electric machinery and equipment, clothes, textiles and shoes, chemicals, agri and food products, iron and steel products, and leather goods.
The brief states that India's imports from Chile have been confined to bulk minerals and ores (mainly copper concentrate, molybdenum, iodine and gold), inorganic chemicals, and agri products such as fruits.
Investment
Indian investment in Chile, based on information given by various companies, is estimated at US$ 620 million. Indian companies have entered the Chilean market by acquiring Chilean companies or by setting up joint ventures. Chilean investment in India is estimated to be US$ 118 million.
Prominent Indian companies with a presence or some kind of representation in Chile, as listed in the brief, are TCS, Infosys, Godrej, Wipro, Dr. Reddys, Seven Pharma, Siron Pharma, MSN Laboratories, UPL, Bajaj Auto, Tata, Mahindra, Apollo Tyres, Ashok Leyland, Sterling & Wilson, Tega Industries, Kalpataru Power and Vega Industries.
Preferential Trade Agreement and CEPA negotiations
The India-Chile Preferential Trade Agreement (PTA) came into effect from September, 2007, covering 474 tariff lines. The scope of the PTA was expanded to 2829 tariff lines in September 2016, and the brief states that the PTA came into force in 2017.
The two countries have decided to negotiate a Comprehensive Economic Partnership Agreement. Its Terms of Reference were finalised in April 2025, during the VVIP visit. As of the brief, four rounds of negotiations have been held in India and Chile, with the last round in New Delhi in December 2025.
Areas of cooperation from the 2025 State visit
According to the brief, President Gabriel Boric's State visit to India in April 2025 opened up new avenues for further development of cooperation in:
- trade
- mining and mineral resources
- health and pharmaceuticals
- ICT
- agriculture
- green energy
- traditional medicine
- Antarctica
- Science & Technology
- management of natural disasters
- Startups
- audiovisual co-production
Pharmaceuticals
A large Indian business delegation of over 80 pharmaceutical companies visited Chile from 2-3 February 2026 and took part in the India-Chile Pharmaceutical Business Forum, holding 580+ B2B meetings with Chilean counterparts. A key highlight of the visit was the signing of an MOU between CENABAST and Pharmexcil to develop an institutional framework for cooperation in pharmaceuticals.
Defence cooperation
An MoU on Defence Cooperation was signed in January, 2007. The Chilean Navy procured an Anchor Handling Towing Supply and Standby ocean support vessel from Larsen & Toubro Shipbuilding in March 2020.
A defence delegation of representatives of Defence PSUs and some private companies took part in EXPO-NAVAL from 3-6 December, 2024 and showcased a wide range of defence products. The brief describes EXPO-NAVAL as one of the largest naval exhibitions in Latin America.
Space cooperation
One satellite belonging to Chile, SUCHAI-1, was launched by PSLV in 2017 as a co-passenger under a commercial arrangement with Antrix, ISRO's commercial wing. Three officials from Chile have participated in ISRO's training programme UNNATI (UNispace Nanosatellite Assembly & Training), part of the UNISPACE+50 initiatives.