India and Peru are likely to resume negotiations on a proposed free trade agreement next month, a senior Peruvian diplomat says. Javier Paulinich, Peru’s ambassador to India, tells Reuters that “in principle” the next round of talks is set for June. He also says the two countries are discussing additional cooperation areas alongside the free trade pact. Peru is negotiating a chapter on critical minerals with India. Paulinich further notes that Indian company Hindalco is exploring purchases of copper from Peru, indicating ongoing trade and sourcing discussions beyond the agreement talks. On timing, the Peruvian envoy says a deal could be signed by the end of the year, although no official confirmation from India’s side is cited. India’s Ministry of Commerce and Industry does not immediately respond to a request for comment. The reporting also places the negotiations in the context of copper trade and supply concerns. Peru is the world’s third-largest copper producer, and India is a major importer of refined copper, with demand projected to rise in coming decades. The discussions therefore occur amid expectations of tighter supply and higher demand for critical resources.
India and Peru likely to resume free trade pact talks in June
India and Peru are likely to resume negotiations on a proposed free trade agreement next month, a senior Peruvian diplomat says. Javier Paulinich, Peru’s ambassador to India, tells Reuters that “in pr...
- India and Peru are likely to resume free trade agreement negotiations in June, according to Peru’s ambassador to India.
- Peru and India are also negotiating a chapter on critical minerals as part of the broader talks.
- Peruvian envoy Javier Paulinich says an agreement could be signed by the end of the year, pending negotiations.
- Hindalco is seeking to buy copper from Peru, according to the Peruvian diplomat.
- Peru produces about 2.7 million metric tons of copper (2024), and India is a major importer of refined copper.
Peru, the world's third-largest producer of copper, is also negotiating a chapter on critical minerals with India, Paulinich said
3 months agoNEW DELHI: India and Peru will probably hold the next round of talks on a proposed free trade pact next month, a senior Peruvian diplomat told Reuters, adding that a deal could be signed by the end of the year."In principle, in June we are going to resume the negotiations," Javier Paulinich, Peru's ambassador to India, said.Also read: India, Canada to hold next round of FTA talks in Ottawa in JulyPeru, the world's third-largest producer of copper, is also negotiating a chapter on critical minerals with India, Paulinich said.India's Ministry of Commerce and Industry did not immediately respond to an emailed request for comment.India's Hindalco Industries was also looking to buy copper from Peru, Paulinich said. "I think they are trying to negotiate," he said.Hindalco did not immediately respond to a Reuters email seeking comments.Peru produced about 2.7 million metric tons of copper in 2024 and attracted $4.96 billion in foreign investment in the sector.Also read: Resilient, not shock-free: India charts path through war jittersAnticipating a surge in demand and potential supply shortfalls, India, the world's fastest-growing major economy, has urged its mining companies to invest overseas to secure copper supply chains and manage possible disruptions, according to a government policy document published last year.India, the world's second-biggest importer of refined copper, may have to source 91% to 97% of its copper concentrate requirements from overseas by 2047, according to official estimates.India's copper imports rose 4% to 1.2 million metric tons in the fiscal year to March 2025. Demand is expected to climb to 3 to 3.3 million tons by 2030 and 8.9 to 9.8 million tons by 2047, the government has said.
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