India launches Oman Free Trade Agreement and expands negotiations with Chile on critical minerals

India is accelerating negotiations on major international trade agreements with Oman and Chile as the country seeks to expand global economic partnerships and secure long-term access to strategic resources, reports ANI, a TV BRICS partner.

India’s Commerce and Industry Minister Piyush Goyal announced that the free trade agreement with Oman is expected to come into force on 1 June 2026 following what he described as productive discussions between the two countries.

According to the minister, the agreement is expected to deepen bilateral trade ties, improve market access, and strengthen supply chain integration between India and Oman. Goyal confirmed progress in negotiations with Chile, particularly in the area of critical minerals and mining cooperation. He noted that both countries are exploring mutually beneficial arrangements that could pave the way for a comprehensive free trade agreement.

India has increasingly focused on securing access to critical minerals needed for advanced manufacturing, renewable energy technologies, and the clean energy transition. Cooperation with resource-rich countries is considered an important element of the country’s long-term industrial and technological development strategy.

The minister highlighted that India continues to strengthen its international trade position through resilience, economic stability, and expanding diplomatic engagement.

Analysts note that the proposed agreements with Oman and Chile could enhance India’s role in international trade corridors, supply chains, and support the country’s ambitions to become a major global manufacturing and innovation hub.