Chile holds a strategic position in international market for critical minerals and rare earth elements and the country possesses a significant share of global production and reserves, he said at an event in Chennai to mark the 216th anniversary of Chile’s Independence.
“In copper, we produce 22 per cent of global production, far ahead of the second-largest producer, which is Peru, and we hold 21 per cent of global reserves. In lithium, we produce 25 per cent of global production and hold 30 per cent of global reserves,” Angulo said.
Chile also has an important participation in other minerals like molybdenum, rhenium, calcium, iodine, and some rare earths. Overall, the country represents 25-30 per cent in global measure, he said.
“This opens up the possibility of establishing a strategic alliance with India. The alliance focused not merely on the exploitation or extraction of minerals, but on the joint integration of the value chains of the final products derived from these minerals,” Angulo said.
Those will be key ingredients in the future of the artificial intelligence revolution, for data centres and artificial intelligence factories, he said.
Chile and India are also negotiating a free trade agreement -Comprehensive Economic Partnership Agreement (CEPA). The current bilateral trade between both countries exceeded USD 5.6 billion in 2025 which has grown from USD 2.2 billion few years ago.
“India passed from being our twelfth commercial partner to being number five last year,” Angulo said.
On the free trade agreement, he said both sides have completed four rounds of negotiations.
“Negotiations started in May 2025. And now we have finished the fourth round. The Secretary of Commerce of India, Rajesh Agarwal, was in Santiago in September, a few weeks ago. And we are in the last stage,” Angulo said.
Later speaking to reporters, he said Chile hopes to conclude the agreement by end of this year and for the first time critical minerals will be one of key chapters.
“We are mostly concentrating on the market access and critical minerals chapter,” Angulo said.
He also noted that Chile has launched a new visa system for business, under which Indian businesspersons receive a multi-entry visa valid for up to 90 days, with a two-year validity period.
“This fundamentally facilitates the mobility of technical experts and business professionals,” Angulo said.
“Opportunities are also present in the agri-food sector, where Chile has developed a robust and innovative ecosystem that allows us to offer Indian consumers the possibility of accessing high-quality food products, as well as establishing joint ventures with Indian counterparts, and at a very affordable price,” he said.
Chile also aims to establish itself as a reliable partner within India’s food security supply chain, Angulo said.
“Chile positions itself as a potential destination for some of India’s vast pool of high-quality human capital. We have developed several clusters of innovation, and we are at the forefront in the region in the implementation of artificial intelligence-based tools for industry and education, while keeping it human-centred and inclusive,” he said.
“The election of Chile as a destination for Indian talent will, in turn, complement the country’s own national capabilities, both in terms of developing hubs of innovation and in the production of goods, services, software, and other high-tech industries,” Angulo said.
Chile is one of the most commercially integrated countries in the world. This network positions Chile as a secure and reliable gateway for Indian companies, products, and services seeking to penetrate markets across the Western Hemisphere, as well as other global markets, he said.