India Nears FTA with Chile: Critical Minerals Access and Market Expansion on Horizon

• India is close to finalizing a Free Trade Agreement (FTA) with Chile, aiming to secure critical minerals like Lithium, Copper, and Molybdenum.
• The 4th round of Comprehensive Economic Partnership Agreement (CEPA) negotiations concluded with substantial progress, focusing on market access and critical minerals.
• India seeks preferential rights in mineral exploration and assured rates to secure future supply chains, while Chile aims to diversify trade destinations.
• A separate chapter on critical minerals is expected in the FTA, a first for India's trade agreements with Chile and Peru.
• The FTA will significantly open the Indian market for Chile and expand India's access to essential resources, building on an existing Preferential Trade Agreement.

Why It Matters: India's upcoming FTA with Chile promises crucial access to critical minerals and expanded market opportunities.