MoU formalizes mutual intent to enhance trade relations
Chile and India have signed two strategic agreements in Bangalore aimed at deepening collaboration in innovation, entrepreneurship, and start-up ecosystems between the two nations following President Gabriel Boric State visit http://startupchile.org.
The President concluded his state visit with the agreement signings, said a press release on 10 April.
President Boric toured Delhi, Mumbai, and Bangalore, with the final leg of the trip culminating in a series of high-level engagements in India’s technology capital.
In Bangalore, the President visited Chaman Bhartiya School, where he interacted with students and educators to learn about their pioneering education practices and innovative projects https://www.investindia.gov.in/.
Accompanied by a high-level delegation comprising Chilean government officials, business leaders, and representatives from leading tech start-ups, President Boric participated in a roundtable discussion with key stakeholders from Karnataka’s innovation ecosystem. Participants included senior officials from the Department of Electronics, IT, Biotechnology, and Science & Technology, as well as leaders from incubators, accelerators, and venture capital organizations.
A key highlight of the visit was the signing of a Memorandum of Understanding (MoU) between the India SME Forum and ProChile, Chile’s export promotion agency. The agreement aims to facilitate the exchange of information, joint participation in events, and the promotion of collaboration between innovation ecosystems in both countries—particularly in the fields of biotech, climatech, healthtech, and edtech https://digitalinasia.com/.
Vinod Kumar, President of the India SME Forum, remarked, “This MoU formalizes the mutual intent to enhance trade relations and foster people-to-people connections between our two nations. Chile presents a strategic gateway for Indian entrepreneurs into Latin American markets, while India offers Chilean start-ups access to one of the world’s most dynamic and populous consumer bases.”
He further added, “With over 1.2 million members, the India SME Forum is enthusiastic about pursuing cross-border opportunities in technology, trade, investment, and entrepreneurship in Chile.”
Ignacio Fernández, Director General of ProChile, expressed optimism about the partnership, stating, “We are proud to showcase not only Chilean agri-food products but also the robust innovation and technology ecosystem we’ve built. There is immense potential for start-ups from both nations to collaborate in addressing global challenges such as climate change, healthcare innovation, renewable energy, and financial technologies https://www.startupindia.gov.in/.”
Chile-India bilateral trade reached an all-time high in 2023, with Chilean exports to India totaling over US$2.5 billion. While copper and agri-food products continue to dominate trade, the agreements signed during the visit underscore both countries’ commitment to diversifying areas of cooperation.
President Boric also attended the Chile-India Innovation Summit on 6 April in Bangalore. The event brought together Minister Priyank Kharge and Dr. Ekroop Caur of the Government of Karnataka’s Department of Electronics, IT, Biotechnology, and Science & Technology, along with business leaders from both countries. The summit featured start-up pitch sessions and highlighted new opportunities for bilateral innovation partnerships.
In another significant development, CORFO—Chile’s national economic development agency—signed an MoU with the Bangalore-based Global Innovation Alliance, becoming the first Latin American institution to formalize such a partnership. Fiinews.com
