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Chilean President Gabriel Boric Font is currently on a five-day visit to India, marking his first official trip to the country as President. The visit includes a high-level delegation of ministers, parliamentarians, business leaders, and cultural representatives, aiming to deepen ties between India and Chile.
On Tuesday, Prime Minister Narendra Modi welcomed President Boric at Hyderabad House, New Delhi, where they held bilateral discussions covering strategic and economic areas of cooperation.
Key Outcomes: Trade, Lithium, and Strategic Cooperation
In a joint statement, PM Modi emphasized the importance of Chile as India’s key partner in Latin America. Highlights from the discussion include:
Initiation of talks for a Comprehensive Economic Partnership Agreement (CEPA)
Potential collaboration on critical minerals, especially lithium
Strengthening of resilient supply chains and value chains
Offers to share India’s expertise in digital infrastructure, renewable energy, railways, and space technology
Modi described Chile as a strategic gateway for India to Antarctica, highlighting its geopolitical significance.
Foreign Minister S. Jaishankar Meets President Boric
Prior to the Modi-Boric meeting, External Affairs Minister Dr. S. Jaishankar met with President Boric. On social media, Jaishankar expressed confidence in the visit leading to “new partnerships and deeper cooperation.”
India-Chile Trade and Lithium Diplomacy
Chile holds the world’s largest lithium reserves, a key resource for batteries used in electric vehicles and renewable energy storage. Currently, 80% of Chile’s lithium is exported to China. Boric’s visit could pave the way for diversifying Chile’s export markets, potentially boosting India’s lithium security.
Bilateral trade between the two countries has grown steadily—from ₹1,545 crore in 2020 to ₹3,843 crore in 2024.
Expanding India-South America Relations
President Boric will also meet President Droupadi Murmu, and visit Agra, Mumbai, and Bengaluru before concluding his visit on April 5. The visit is part of India’s larger effort to expand its engagement with South American nations. Recently, Peru’s Foreign Minister visited India to discuss a possible Free Trade Agreement (FTA), and similar discussions with Chile may soon follow.
