With bilateral trade between India and the South American country Peru touching an all-time high of $1.60 bn, the next round of talks for a free trade agreement (FTA) between the two countries is scheduled to take place next month. The aim of this FTA is to liberalise norms for trade in goods and services. Both sides are keen on expanding their trade basket as well as deepening their trade and investments.

There has been a significant increase in trade between the two countries. Import of gold from Peru has gone up from last year’s $ 1.3 bn and it has potential of going up further. Silver is the other metal that India is keen on. India buys copper from Peru as there is huge concentration of Copper which Indian mining companies can explore. Peru is the world’s sixth largest producer of gold, second largest producer of silver, and the third largest producer of copper, tin, zinc, and lead.