India-Chile : Overview


  • Among the Latin American Countries (LAC), Chile was the third largest trading partner of India during 2015-16.
  • During 2015-16, India’s bilateral trade with Chile stood at US$ 2.64 billion with exports at US$ 0.68 billion and imports at US$ 1.96 billion respectively.
  • India has friendly relations with Chile and India’s exports to Chile are diverse.
  • Chile also has been cooperating with India at the International fora.
India-Chile preferential trade agreement
  • India and Chile have inked an agreement to expand the scope of their existing Preferential Trade Agreement (PTA) by covering more goods for tariff concessions
  • Expansion of India-Chile PTA will enhance the trade and economic relations between the two countries. It will be an important landmark in India-Chile relations and consolidate the traditional fraternal relations that have existed between India and LAC countries
  • The India-Chile PTA signed in March 2006 came into force in August 2007.
  • Bilateral trade registered growth of 60% from 2006-07 to 2014-15 after the PTA came into force.
What is a PTA?
A preferential trade agreement is a trading bloc that gives preferential access to certain products from the participating countries. This is done by reducing tariffs but not by abolishing them completely



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