The delegation was led by Fidel Espinoza, the President of the Chamber of Deputies of Chile.
Welcoming the delegation, Kovind said India appreciates Chile's support and solidarity in the fight against terrorism.
"India and Chile are vibrant democracies. We have been having regular interactions between our parliamentarians. These have played an important role in strengthening our bilateral ties," the President said.
"The President was happy to note that Chile has signed the agreement to join the International Solar Alliance. He stated that over the past decade or so, Chile has taken the lead to push for the global sustainability agenda. Joining of the alliance by Chile will strengthen our collective effort towards addressing climate change," according to a statement from the Rashtrapati Bhavan.
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"We are hopeful that the Expanded India-Chile Preferential Trade Agreement will give a boost to our bilateral trade. The Indian growth story and Chilean expertise must benefit from each other," Kovind said.
He said both countries can work together in areas such as mining, renewable energy and services.
"Cooperation in science and technology and space and defence sectors also hold immense potential. India and Chile share common views on various global issues. India also appreciates Chile's support for its aspiration to be a permanent member of the UN Security Council," he said.