Peru awaits India response as trade talks near end, minister says

Peru is eagerly awaiting India's response to a counterproposal it sent to the South Asian nation as trade talks for a free trade agreement reach their final stages. Minister for Trade Rogers Valencia revealed this on Friday, adding that Lima aims to seal the deal by 2027. India has become Peru's second-largest export destination this year, surpassing the United States, primarily due to gold shipments, according to official data from the Ministry.

Valencia informed Reuters that the counterproposal process is ongoing, with hopes of signing the agreement in 2027. China currently remains Peru's top export partner, driven mainly by copper and minerals. In 2025, official data showed exports to India amounted to $6.184 billion, a staggering 152% increase from the same period a year earlier. In contrast, shipments to the United States totaled $5.971 billion, a 21% rise.

Peru, a leading copper producer, anticipates exports to reach a record high of over $100 billion this year, up from approximately $91 billion in 2025, as stated by Valencia. Speaking a day after U.S. Secretary of State Marco Rubio's visit to Peru, Valencia mentioned that they discussed the recent U.S. tariff on Peru's exports, which would impact various sectors, particularly agriculture.

While Peru had traded tariff-free with the U.S. under a 2009 agreement, these new duties have affected blueberries, textiles, grapes, and avocados.

Valencia further revealed that he will travel to the United States later this month with President Keiko Fujimori for the UN General Assembly. The Peruvian delegation hopes to advance talks with Washington regarding tariffs and bilateral trade relations during this visit.