Chile possesses over 20% of the world’s , 30% of global (the world’s second-largest producer) and a substantial amount of cobalt, offering significant opportunities for Indian companies looking to secure access to these minerals through greenfield and brownfield mining projects. ET has learnt that Santiago is extremely keen that Indian companies get involved in the mines of the Latin American country and create a long-term value chain to power India’s economic growth.
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Both nations are aiming to conclude CEPA in the third or fourth quarter of this year, with India seeking favourable, long-term access to critical mineral exploration blocks (such as lithium and copper) to secure its EV and advanced electronics supply chains. Earlier this month, India and Chile signed the Terms of Reference for CEPA.
Chile is also positioning itself as the Silicon Valley of South America and is keen to invite Indian talent for the industry. “Chile has strong digital infrastructure, high penetration of the internet and a US time zone with which Indians are familiar. India produces talented engineers every year and the USA alone cannot absorb all the engineers, and Chile can provide another option,” a senior Chilean government official told ET.
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Chile, which has FTAs across the Pacific region, can also be India’s gateway to the region, the above-mentioned official pointed out.
These issues figured high on the agenda when Chile’s new Foreign Minister made a week-long trip to India recently.
Known for its political and economic stability, Chile has one of the highest per capita incomes in the Latin American region and is well entrenched in the global financial architecture.
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