India is committed to concluding a “balanced and mutually beneficial” trade deal with Chile within this year, the Ministry of Commerce and Industry said, following a meeting between Commerce Secretary Rajesh Agrawal and Chile’s Vice-Minister of International Economic Relations Paula Estévez Weinstein.

The meeting between Mr. Agrawal and Ms. Weinstein took place on August 26 in Santiago, Chile, to advance negotiations on the India-Chile Comprehensive Economic Partnership Agreement (CEPA).

India and Chile started their CEPA negotiations in May 2025, following the signing of the Terms of Reference on May 8, 2025.

“India remains committed to concluding the CEPA negotiations within this year, with the aim of delivering a balanced and mutually beneficial framework that provides equitable and commercially meaningful outcomes for businesses on both sides,” the Ministry said in a statement issued on Sunday (August 30, 2026).

India’s exports to Chile stood at $1.2 billion in 2025-26, about 5.8% higher than in the previous year. Imports from Chile, on the other hand, stood at $5 billion — 93% higher than in 2024-25.

According to the statement, India reiterated its commitment to openness, sustained engagement, and a balanced approach in strengthening the India-Chile economic partnership.

“The shared identity of India and Chile as members of the Global South, along with their common strategic vision, provides a strong foundation for deepening bilateral economic cooperation and advancing shared prosperity,” it said.

Both sides also emphasised the importance of building on the strong and growing India-Chile relationship and ensuring that the CEPA translates into “concrete and commercially meaningful” opportunities for businesses on both sides.

“The Commerce Secretary highlighted the immense potential for enhanced economic cooperation in sectors including healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering,” the statement said.