India in Talks with Chile and Peru for Copper and Critical Minerals to Curb China Dependence
India is in advanced discussions with Chile and Peru to secure critical mineral supplies, including copper, as part of ongoing free trade agreement (FTA) negotiations, according to a senior official from the Ministry of Commerce and Industry.
The talks aim to ensure a stable supply of key resources for India’s growing industrial needs, particularly copper concentrate.
A government document released earlier this month confirmed that copper will be included as a dedicated chapter in the trade pact, with a focus on securing fixed quantities of the material from the two South American nations.
India currently imports over 90% of its copper concentrate and is projected to increase its reliance to 97% by 2047.
To strengthen supply chains and reduce vulnerability, India is actively diversifying its sourcing strategy.
The trade ministry official also noted India’s broader goal of reducing dependence on China for critical minerals.
This follows China’s recent decision to restrict the export of rare earth magnets—of which it produces about 90% of the global supply—in response to US tariffs.
With the world’s third-largest automotive market and the fifth-largest reserves of rare earths, India is developing a new incentive scheme to boost domestic magnet production, Reuters reported last month.
These strategic efforts are part of India’s broader push to secure long-term access to essential resources for clean energy, electronics, and automotive manufacturing.
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