In this regard, India successfully reviewed relations in these areas with both Latin American nations in separate rounds of talks, which proved significant, according to the Ministry of Commerce and Industry of the South Asian country.

The government entity emphasized that in the ninth round of negotiations for the India-Peru Trade Agreement, there was substantial progress on key chapters of the proposed agreement, such as the exchange of goods and services, rules of origin, technical barriers to trade, customs procedures, dispute settlement, and critical minerals.

At the meeting in Lima, Peru’s Minister of Foreign Trade and Tourism, Teresa Stella Mera Gómez, reaffirmed her country’s commitment to the swift conclusion of the negotiations, highlighted the complementarity between the two economies, and expressed her optimism regarding the benefits the agreement will bring to trade and investment flows.

Meanwhile, Ambassador to Peru Vishvas Vidu Sapkal, who was part of the Indian delegation accompanied by Vimal Anand, Deputy Secretary and Chief Negotiator, indicated that the agreement will generate new opportunities for cooperation in areas such as critical minerals, pharmaceuticals, automobiles, textiles, and food processing.

Also, the third round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between India and Chile recently took place, with discussions covering a wide range of topics, including trade in goods and services, investment promotion, and rules of origin.

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