Finance Minister Nirmala Sitharaman met Chile’s special envoy Eduardo Frei and discussed stronger economic ties, early conclusion of the India-Chile CEPA and financing opportunities in critical minerals and renewable energy.
New Delhi, October 25 — Finance Minister Nirmala Sitharaman met former Chilean President and Ambassador on a Special Mission Eduardo Frei, with discussions focused on expanding bilateral economic cooperation between India and Chile.
According to the Finance Ministry, the two sides discussed the early conclusion of the India-Chile Comprehensive Economic Partnership Agreement (CEPA) and explored additional avenues for cooperation.
Sitharaman also conveyed concern over the recent floods in Chile during the meeting.
The discussions included possibilities for deeper engagement with the Development Bank of Latin America and the Caribbean (CAF).
The Finance Minister encouraged CAF to explore financing opportunities for projects involving Indian companies, particularly in sectors considered strategically important for future growth.
These include critical minerals and renewable energy.
The focus on critical minerals comes at a time when India is seeking to secure diversified global supply chains for materials required in electric vehicles, batteries, renewable energy systems and advanced manufacturing.
Chile is a major global producer of several minerals, making cooperation in this area important for India’s energy-transition and manufacturing ambitions.
Renewable energy was another key area highlighted during the talks.
India has been rapidly expanding solar, wind and other clean-energy capacity, while also encouraging overseas partnerships that can support technology, financing and supply-chain resilience.
The Finance Ministry noted that CAF already engages with organisations such as the Confederation of Indian Industry (CII) and EXIM Bank.
Sitharaman urged the development bank to build on those existing ties and examine new projects involving Indian businesses.
The proposed India-Chile CEPA is expected to create a broader framework for trade and investment cooperation between the two countries.
An early conclusion of the agreement could help businesses gain improved market access and strengthen economic ties across sectors.
The meeting reflects India’s growing engagement with Latin America, particularly in areas such as critical minerals, clean energy and infrastructure financing.
