India is stepping up its trade engagement with South America as Commerce Secretary Rajesh Agrawal undertakes a three-nation visit to Brazil, Argentina and Chile from August 24 to 28. The visit is aimed at diversifying India’s export markets and strengthening economic ties with the region.
Agrawal will chair Joint Trade Committee meetings with Brazil and Argentina, where discussions are expected to focus on expanding bilateral trade, improving market access and addressing outstanding trade-related issues. India is also seeking greater engagement with the MERCOSUR bloc, which includes Brazil, Argentina, Paraguay, Uruguay and Bolivia.
In Chile, the Commerce Secretary will review progress on negotiations to upgrade the existing India-Chile Preferential Trade Agreement (PTA) into a broader Comprehensive Economic Partnership Agreement. The negotiations are reportedly at an advanced stage, with market access and critical minerals among the key issues still under discussion.
Critical minerals are expected to be a major priority for India, given Chile’s importance as a global supplier of resources such as lithium and copper. India is seeking stronger access to these strategic minerals, while Chile is looking for greater access to the Indian market.
The visit will also provide an opportunity to address the longstanding India-Brazil sugar dispute at the World Trade Organization, alongside broader discussions on trade expansion and economic cooperation.
Bilateral trade has been expanding rapidly. India-Argentina trade rose 25.5% to $5.96 billion in 2025-26, while India-Brazil trade increased 23.48% to $15 billion. Trade with Chile also climbed sharply, reaching $6.25 billion, up 66.45% during the same period.
The three-nation tour underscores India’s growing focus on South America as a source of new export opportunities, strategic raw materials and stronger regional trade partnerships.