The Minister of Foreign Trade and Tourism, Magali Silva, announced Peru will start talks for a Free Trade Agreement with India as part of the negotiating agenda that has yielded impressive benefits to the country.
The Ministry of Commerce and Industry of India informed it has set up the working group that will engage in joint studies for the negotiation of the trade agreement between the two countries.
The joint working group work is intended to identify the strategic and economic benefits for both nations, review the institutional framework, infrastructure and bilateral trade mechanisms.
It also aims to determine the negotiation framework to facilitate the trade in goods, services and investments.
Silva stressed that India is an important market with a great potential for development.
India has a market of 1.2 billion people out of which the middle class is estimated to be around 500 million.