At the Indo–South America Trade and Investment Conclave organised by PHD Chamber of Commerce and Industry on 15 December, H.E. Mr. Juan Angulo, Ambassador of Chile to India, outlined Chile’s economic strengths, trade openness, and growing convergence with India across energy, minerals, innovation, and sustainable development.
Presenting Chile as one of Latin America’s most stable and open economies, Amb Angulo highlighted that trade accounts for over 75 percent of Chile’s GDP, with exports exceeding USD 100 billion annually. “Chile took a conscious decision decades ago to open its economy, and that openness remains the cornerstone of our growth strategy,” he said.
With trade agreements covering 88 percent of global GDP, Chile has emerged as a reliable partner in global value chains. While Europe and the United States were historically key markets, Asia—particularly China—now plays a dominant role. At the same time, Chile is actively diversifying trade relationships, with India identified as a priority partner.
Bilateral trade between India and Chile is on a strong upward trajectory and is expected to touch USD 4 billion this year. Chile’s exports to India are led by copper, iodine, chemicals, wood products and agri-goods, while India exports machinery, pharmaceuticals, textiles and industrial products. Emphasising regulatory cooperation, Amb Angulo noted, “In pharmaceuticals, we have built a solid framework that facilitates Indian companies’ access to the Chilean market.”
Looking ahead, Chile sees major opportunities in clean energy and critical minerals. Positioning itself as a future global supplier of green hydrogen, Chile is already preparing port infrastructure and international partnerships to support exports. “We are not only producing clean energy—we are building the ecosystem required to deliver it to global markets,” Amb Angulo remarked.
Chile is also keen to move up the value chain in lithium, integrating processing and manufacturing rather than exporting raw materials alone. Services, fintech, digital infrastructure, and innovation were identified as additional areas of synergy, supported by Chile’s high internet penetration and mature banking system.
Amb Angulo underlined the importance of institutional certainty for investors, pointing to the India–Chile Double Taxation Avoidance Agreement and the forthcoming Social Security Agreement. These, he said, “send a strong signal of predictability and long-term commitment.”
On trade architecture, he confirmed that India and Chile are progressing towards a comprehensive Economic Partnership Agreement. “We believe in focused and efficient negotiations. If an agreement makes sense, it should be concluded without unnecessary delay,” he stated.
Concluding his address, Amb Angulo stressed that Latin America is diverse and cannot be approached through a one-size-fits-all lens. Chile, as part of the Pacific Alliance, offers India a stable and outward-looking gateway to the region. Beyond economics, he added, India and Chile share common ground in global governance and multilateral cooperation.
“India and Chile are natural partners—complementary economies with shared ambitions,” he said, calling for deeper business-to-business and people-to-people engagement.
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