India, Peru likely to hold talks on free trade pact in June, diplomat says
The proposed deal would add a critical minerals chapter as India seeks copper supplies and Peru targets more investment, officials said.
- India and Peru will likely resume negotiations on a proposed free trade pact in June, Peru's ambassador to India, Javier Paulinich, said, with a potential deal by year-end.
- Anticipating a surge in demand and potential supply shortfalls, India has urged domestic mining companies to invest overseas to secure copper supply chains and manage disruptions.
- Peru, the world's third-largest copper producer, attracted $4.96 billion in foreign mining investment in 2024; Hindalco Industries is exploring potential copper purchases from the nation.
- Negotiations include a specific chapter on critical minerals, Paulinich confirmed, addressing India's strategic resource acquisition goals as part of the broader trade agreement.
- Official estimates project India's copper demand will climb to 9.8 million tons by 2047, establishing why long-term supply agreements with major producers like Peru are vital.
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India, Peru likely to hold talks on free trade pact in June, diplomat says
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.
Peru and India plan to resume negotiations for a free trade agreement (FTA) next June in New Delhi."In principle, in June we are going to resume negotiations and headquarters would be Delhi," Peruvian ambassador Javier Paulinicha told the EFE agency.The primary objective of this meeting is to conclude this year a pact that will allow the removal of tariff barriers and open up the fastest-growing global economy for the Peruvian market."The only t…
Peru produced about 2.7 million metric tons of copper in 2024 and attracted $4.960 million in foreign investment in the sector
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