Chennai:
Chile prefers quality India pharma products to that of China’s and expressed keenness on working with India in areas like renewable energy, biotechnology, agricultural sciences, transportation, mining and lithium-based industries.
Addressing a breakfast meeting of businessmen organized by Confederation of Indian Industry on Friday, President of the Senate of Chile Guido Girardi said Indian medicines are far better than those manufactured by Chinese industries and evinced keen interest in tying up with India.
Interestingly, China is one of the biggest trading partners of Chile. Chile sources said India is at an disadvantage due to lack of foreign trade agreement with Chile otherwise it could have an edge over China in pharma products.
Chile ambassador Cristian Barros said that a preferential trade agreement with India was being worked out. The proposed new regime would include about 1000 items, against 120 now, covering almost 90 per cent of Chile’s offerings and 60-70 per cent of India’s offerings.
Girardi said there was tremendous scope for partnership between Chile and India in areas of renewable energy, especially, geo-thermal, tidal wave, wind, biomass and solar.
He said the country has set a target of generating 20 per cent of its energy needs, especially in the copper mining sector, by 2020.
He said Chile considered the lack of crude oil or coal reserves as an opportunity to develop renewable energy sources.
Though there were wind power projects in the country, there were only pilot projects for solar and biomass power generation. He invited Indian companies to set up projects in Chile and explore different areas for association and partnership.
T T Ashok, chairman, CII Southern Region said owing to the great potential for partnership between India and Chile there could be a Comprehensive Economic Co-operation Agreement between the two countries. The agreement should cover investments, bilateral trade, education etc.
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