The agreement is expected to create greater opportunities for businesses in both countries by improving market access and strengthening cooperation in areas including technology, talent and supply chains.
“India remains committed to concluding the CEPA negotiations within this year,” the ministry said, adding that the pact would seek to deliver a balanced framework with commercially meaningful outcomes for businesses on both sides.
India and Chile have identified healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering as sectors with significant scope for deeper economic cooperation, according to the statement.
The proposed agreement comes as India seeks to expand its trade partnerships and diversify supply chains, while strengthening economic ties with countries in the Global South.
Both sides emphasised the need for the CEPA to translate their broader strategic relationship into tangible commercial opportunities, the ministry said. (BVI)
