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India Eyes Peru's Critical Minerals in New Trade Deal
19 Nov
Summary
- India seeks critical minerals chapter in Peru FTA negotiations.
- Peru offers India mining asset opportunities, balancing China.
- FTA talks resume with aim to conclude by July 2026.
India is actively seeking to include a dedicated chapter on critical minerals in its Free Trade Agreement (FTA) negotiations with Peru. Peruvian Ambassador Javier Manuel Paulinich Velarde confirmed that Peru is studying this significant proposal, highlighting India's keen interest in securing these resources. Peru's abundant mineral wealth makes it an attractive partner for India, offering a chance to acquire mining assets and secure access to key minerals.
This strategic move by India aims to counterbalance China's dominant presence in Peru's mining sector. Peru, with its liberal foreign investment policies, welcomes Indian companies to explore and invest in critical and rare earth minerals. The country boasts substantial reserves of silver, copper, zinc, molybdenum, lead, and gold, presenting a substantial opportunity for international collaboration.
Negotiations for the FTA, which began in 2017, are now accelerating, with the aim to finalize the pact by July 2026. The recent ninth round of talks concluded in November 2025, with the tenth round scheduled for January 2026 in New Delhi. Current bilateral trade stands at USD 6 billion, with a target of USD 7 billion for 2025, though the balance favors Peru.
