Focus Area – South America; Focus Country – Peru
India and Peru share cordial relations and with bilateral trade touching 1.5 billion USD (as per a recent Financial Express report), the economic ties between the two countries are bound to get stronger. The talks of a free trade agreement (FTA) are doing the rounds and the two nations are scheduled to meet in March 2018 for taking things forward on this area. The Latin American country is the world’s sixth largest producer of gold, second largest of sliver, and third largest of copper, tin, zinc and lead. With a high demand for gold in India, there have been some investments in Peru’s gold mines.
After the devastating floods which took a massive toll on Peru’s economy, Peru is aiming to revive the economic growth through increased trade and investment in various sectors. India, particularly, can invest in Peruvian infrastructure such as roads, highways, and airports. The positive economic outlook of Peru has boosted the overall economic confidence of the Latin American region. As Peru gears up for a more influential role in the region, India has much to offer and gain from a stronger political and economic relationship with the South American nation. Peru can also serve as a gateway to the Latin American market for the Indian investors and companies.
For an overview of The Envoy’s coverage of Indian affairs, please visit http://www.theenvoy.in/india/
The Envoy 