India-Peru FTA talks to resume after new government takes office – BusinessLine

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Javier Manuel Paulinich Velarde, Ambassador of Peru to India. | Photo Credit: Bijoy Ghosh
The negotiations for the proposed India-Peru Free Trade Agreement (FTA), which were expected to conclude by June or July this year, are likely to resume in the second half of 2026 after Peru’s newly-elected government takes office, said Javier Manuel Paulinich Velarde, Peru’s Ambassador to India
The negotiations have been delayed following Peru’s recent presidential elections. The new government is scheduled to take office at the end of July and will first need to appoint ministers before resuming trade discussions, he told businessline.
“There is interest from both countries to continue the negotiations,” the Ambassador said, expressing optimism that talks would restart once the new administration is in place.
So far, nine rounds of negotiations have been completed. The latest round took place nearly a year ago, after which the country’s election campaign slowed progress.
The Ambassador said the incoming government would decide the timeline for the next round of negotiations but reiterated Peru’s commitment to moving the agreement forward.
The proposed India-Peru FTA is expected to deepen bilateral trade and create new opportunities across sectors such as mining, pharmaceuticals, agriculture, renewable energy and manufacturing, while providing Indian companies greater access to Peru’s abundant reserves of critical minerals.
The bilateral trade has exceeded a record $10 billion, comprising about $2 billion in Indian exports and $8 billion in imports from Peru, doubling over the past two years.
On opportunities beyond the FTA, he highlighted Peru’s vast mining potential, saying the country has around $60 billion worth of mineral exploration and exploitation projects, presenting significant opportunities for global investors, including those from India.
To strengthen investment ties, Peru recently hosted a global mining forum that was attended by a delegation of 12 Indian representatives exploring opportunities in the country’s mining sector.
The Ambassador also invited Indian companies to participate in Peru’s infrastructure development, particularly a proposed $6-billion mega port project, the country’s second such facility after the Chancay port. Unlike projects awarded through restricted bidding, the proposed port investment is open to all investors, he said, adding that Peru is keen to attract Indian participation.
“We believe trade between India and Latin America will continue to grow because our economies are complementary. It will be important for India to have its own presence in port infrastructure,” he said.
Published on June 30, 2026
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