India-Peru Trade Talks: FTA Strategy to Shape Future Negotiations

India and Peru's free trade agreement (FTA) negotiations are set to advance after the finalization of the strategy document by India's commerce ministry. With seven rounds completed, the next phase will proceed post-strategy finalization. The trade between India and Peru has significantly increased, highlighting Peru as a major partner.

India's negotiations for a free trade agreement with Peru are poised to progress, contingent on the completion of a crucial strategy document by the commerce ministry. This document is part of an internal effort to standardize FTA negotiation processes, expected to be finalized by year's end.

The two countries have engaged in seven rounds of talks, with an eighth round scheduled once the strategy is in place. This comes as trade between India and Peru has surged, establishing Peru as India's third-largest trading partner in the Latin American and Caribbean regions.

Moreover, India has concluded negotiations for a comprehensive economic partnership with Oman, yet further discussions persist. Draft terms for a proposed FTA with the Eurasian Economic Union are also underway, as India continues to expand its global trade network.

(With inputs from agencies.)