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of <h1>India and Chile to Implement Expanded Preferential Trade Agreement on May 16, 2017, Boosting Bilateral Trade Relations.</h1> India and Chile are set to implement an expanded Preferential Trade Agreement (PTA) on May 16, 2017, enhancing trade relations. The original PTA, effective since August 2007, offered limited tariff concessions. The expanded PTA will see Chile granting India concessions on 1,798 tariff lines and India reciprocating on 1,031 tariff lines, facilitating 96% of bilateral trade. This expansion aligns with the HS 2017 Nomenclature, aiding exporters in leveraging tariff benefits. Despite a trade decline in 2015-16 due to external factors, the agreement aims to boost diverse exports and imports, with Chile being a significant trading partner in the Latin American region.
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