India wants secured access to critical minerals in FTA with Peru

India is hopeful of securing access to Peruvian mines, as part of the free trade agreement (FTA) being negotiated, for an assured supply of critical minerals such as copper, zinc, lithium, molybdenum and rare earth elements, essential for its green energy transition and manufacture of electric vehicles. New Delhi has submitted a non-paper to Peru listing its areas of interest and its sensitivities, and the two sides are scheduled to meet in July for the next round of FTA negotiations. If India can secure mines as part of the India-Peru FTA, it will ensure the permanence of terms for the minerals and supplies will not be hit by policy changes. India’s exports to Peru in FY25 increased 9% to over $1 billion, while its imports increased 60% to about $5 billion, as per a report.

 

 

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!