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The upcoming meeting in Lima will mark the eighth round of FTA talks between India and Peru. The last round was held in New Delhi in April 2024.
Peru vs. Chile: Decoding India’s Trade Balance
Peru is a larger trading partner for India than Chile in terms of total trade volume. In the 2024/25 financial year, India’s exports to Peru stood at $1.02 billion, while imports reached $4.98 billion. Exports to Chile were slightly higher at $1.15 billion, but imports were lower at $2.60 billion.Peru is a larger trade partner for India than Chile in value terms. In FY2024–25, India’s exports to Peru stood at $1.02 billion, while imports reached $4.98 billion. By comparison, exports to Chile were slightly higher at $1.15 billion, while imports totalled $2.60 billion.India’s main exports to Peru include automobiles, motorcycles, three-wheelers, polyester and cotton yarns, pharmaceuticals, iron and steel products, plastic goods, rubber products, tyres, and pipes for the oil and gas industry. Key imports from Peru are gold, copper, synthetic filaments, calcium phosphates, fresh grapes, and fish flour.
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Exports to Chile consist of motor vehicles, drug formulations, chemicals, iron and steel products, man-made yarn and fabrics, auto components, electrical machinery, leather goods, rubber products, bulk drugs, drug intermediates, footwear, aluminium products, and ceramics. Imports from Chile include metal ores, fruits, iron and steel, copper, and various chemicals.