India is exploring broader trade agreements with Latin American and African nations, signalling a strategic push to diversify its export markets and strengthen economic ties in response to recent global protectionism and uncertainty.
India is weighing a wider push for trade agreements with Latin America and Africa as more countries seek formal economic ties with New Delhi, according to reports citing sources familiar with the matter. Officials are said to be prioritising deals that offer clear mutual gains, even as the government receives approaches from several economies looking to open negotiations.
That outreach comes as Commerce Secretary Rajesh Agrawal is expected to visit Chile next month, a trip that underscores India’s growing attention to the region. Sources cited by Zee Business said Brazil, Mexico, Kenya and Ecuador are among the countries expressing interest, while discussions are also under way on a preferential trade agreement with the Southern African Customs Union, a bloc that includes re
The broader strategy fits with India’s effort to widen its trade network at a time of heightened global uncertainty. The move follows renewed US protectionism under Donald Trump’s second administration, including tariff threats and trade investigations that have pushed New Delhi to reduce dependence on any single market and diversify export destinations.
India’s interest is concentrated in sectors where it sees clear upside, including pharmaceuticals, information-technology services, engineering goods, textiles and critical minerals. Latin America is also gaining prominence in policy circles, with analysts noting that New Delhi has been working to deepen ties across the region even as China remains a much larger commercial player there.
Commerce and Industry Minister Piyush Goyal has separately said India has concluded eight free trade agreements covering 37 developed countries, while negotiations continue with Chile, Peru and Canada. According to reporting on the India-MERCOSUR framework, New Delhi and Brazil have also signalled interest in expanding the existing preferential pact, which currently offers limited tariff concessions but could be broadened further if talks progress.
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