Cheers ..to Chile....

Cheers to Chile...

Chilean President Gabriel Boric is in New Delhi today with a large business delegation. His focus is trade and investment.

Some Indians might think that Chile is a small market of 20 million people and it is too far from India.

But Chile is more important for India's exports than some of our neighbouring countries. 

In 2023-24 (April-March) India exported 1.2 billion dollars of goods to Chile. This is more than India’s exports to neighbouring countries such as Cambodia - 185 million dollars, Kazakhstan - 237 m or Myanmar - 670 m.

Main exports are vehicles, pharmaceuticals, equipments and machinery, textiles and chemicals.

The largest EPC contract won by an Indian company in Latin America is not in Brazil or Mexico but in the little Chile. Kalpataru Projects International from Mumbai has secured a 431 million dollar EPC project for building a power transmission line in Chile. This is the single largest project contract of any Indian company in Latin America.

Chile has a unique programme called as "Start-up Chile" inviting foreign start ups to establish centres in Santiago. The Chileans give  40,000 dollars besides other incentives and benefits. Dozens of Indian start-up entrepreneurs have taken advantage of this, Every year there are some Indian start ups setting up their innovation centres in Santiago.  

Falabella, the Chilean retail chain store has a Technology Development centre in Bengaluru employing 250 Indian IT staff. They also have an office in India to procure textiles and other goods for their stores in Latin America.

Chile is the largest Latin American supplier of fresh fruits to India. These are: apples, cherries, pears, grapes, blueberries, plums, mandarins, kiwifruits as well as walnuts.

India and Chile have signed a PTA (Preferential Trade Agreement) under which Chile offers duty concessions on 1798 Indian producs with Margin of Preference (MoP) ranging from 30%-100%. India gives concessions to 1031 Chilean products with MoP ranging from 10%-100%. In any case, Chile has one of the lowest average customs duties (6%) in Latin America.
How important is India for Chile?

India is the 6th largest export market for Chile. This means they export more to India than to Germany, France, UK or Spain. 

In 2024, Chile exported to India 2.55 billion dollars of goods. Major exports: Copper concentrate-1.6 billion dollars, Copper-361 million, Chemicals-221 m, fruits- 150 m and wood pulp 97 m.

Chile is not just about business ….Chile entertains Indians and elevates their spirit.

The Chilean actress Jennifer Mayani has acted in nine Bollywood movies since 2005. The movies are: Good Boy-Bad Boy, Heyy Babyy, Om Shanti Om, Jaane Bhi Do Yaaron, Bhram, Desi Boyz, Victory, Apartment and Golmaal 3

Chile elevates Indian spirit with its famous wines. Chilean wines are available in wine shops across India. The popular Chilean varietals are Carmenere, Merlot, Cabernet Savignon, Pinot Noire, Chardonnay and Savignon Blanc. 

Cheers to Chile...