CHENNAI: Industries Minister S Keerthana said the proposed India-Peru Free Trade Agreement (FTA) could open up new opportunities in mining, pharmaceuticals, renewable energy and advanced manufacturing while strengthening trade and investment between the two sides.
Speaking at Peru’s 205th Independence Day in Chennai, Keerthana said Peru and Tamil Nadu are “natural partners”, with the state’s manufacturing strengths complementing Peru’s resource base. She said Tamil Nadu has built a strong industrial ecosystem spanning automobiles, electric vehicles, electronics, aerospace and precision engineering, backed by a skilled workforce.
“As global supply chains are being reshaped around resilience, clean energy and advanced manufacturing, Peru’s resource strengths and Tamil Nadu’s manufacturing capabilities can create significant opportunities for both economies,” she said.
Peru’s Ambassador to India, Javier Manuel Paulinich Velarde, said Chennai has been emerging as an important hub for trade, innovation and international collaboration. He said Peru saw significant potential to deepen engagement with the state across trade, investment, tourism, education and culture.
Honorary Consul of Peru in Chennai R Dinesh said bilateral trade had crossed a record $10 billion, including about $2 billion in Indian exports and $8 billion in imports from Peru, more than doubling over the past two years, reflecting growing economic ties and the potential for deeper cooperation.