# Peru Trade Talks Hit a Wall as Goyal Signals No Quick Deal, But Canada Moves Faster

> Commerce and Industry Minister Piyush Goyal said market access concerns over certain products mean the India-Peru free trade agreement is unlikely to be wrapped up soon, even as talks with Canada gather pace.

**Type:** article · **Category:** Business · **Published:** 2026-07-04 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/business/peru-ke-satha-vyapara-samajhaute-men-ataki-gari-piyush-goyal-bole-canada-se-batachita-teja-4689 · **Language:** English
**Tags:** India Peru FTA, Piyush Goyal, free trade agreement, India Canada FTA, TTC Brussels, India exports

Negotiations on a free trade pact with the United States are still unfinished, and now India has run into a fresh snag with another country. Commerce and Industry Minister Piyush Goyal said on Saturday that the ongoing free trade agreement (FTA) between India and Peru is unlikely to conclude anytime soon, largely because of market access concerns tied to certain products.

According to Goyal, there are several products where India simply cannot offer market access, and that is why an early deal with Peru looks improbable. He said he does not expect an FTA with Peru to happen very soon. Notably, talks on the proposed agreement between the two countries began back in 2017.

## Talks With Canada Picking Up Speed
Unlike Peru, the picture with Canada is far more encouraging. Goyal said the FTA negotiations between India and Canada are making good progress. He revealed that a team of Indian officials will travel to Canada on Monday for the next round of talks, adding that the aim is to finalise the agreement within the next six months.

Goyal also shared that on 13 July he will travel to Brussels along with External Affairs Minister S. Jaishankar and Ashwini Vaishnav, the Minister for Railways, Information and Broadcasting, and Electronics and IT. There, the three will attend a meeting of the India-European Union (EU) Trade and Technology Council (TTC).

## Where India Stands to Gain From Peru
Talks on this agreement with Peru began roughly nine years ago, and the deal is expected to benefit India the most. Once it is in place, imports of copper, gold and other metals from Peru will become cheaper. That directly helps India's electronics and manufacturing sectors, which would get low-cost raw material, find it easier to ramp up production, and see their costs come down.

## A Boost for Exports
Completing the FTA with Peru is also expected to lift India's exports. India already ships a significant amount of automobiles, machinery and cotton yarn to Peru. Removing duties on these products would make it easier to expand those exports. Demand for Indian medicines in Peru is likely to rise too, since India remains a major hub for pharmaceutical exports. In short, a free trade agreement with Peru could turn out to be a profitable proposition for many Indian industries.

## What this means for you
- **For buyers:** With the Peru deal stalled, cheaper imports of copper, gold and other metals are on hold for now, which could delay any drop in costs for electronics and manufactured goods.
- **For industry and exporters:** If the Canada deal is sealed within six months, Indian sectors like automobiles, machinery, cotton yarn and pharma could gain new market access and tariff relief.

## Questions & Answers

### 1. Why won't India's FTA with Peru happen soon?
According to Piyush Goyal, there are market access concerns over certain products and several items where India cannot offer market access, so the deal is unlikely to conclude quickly.

### 2. When did India and Peru begin talks?
Negotiations on the proposed free trade agreement between the two countries began in 2017, roughly nine years ago.

### 3. What is the status of the FTA with Canada?
Goyal said talks with Canada are progressing well, a team of Indian officials travels there on Monday for the next round, and the aim is to finalise the deal within six months.

### 4. What does India gain from a deal with Peru?
It would make imports of copper, gold and other metals cheaper, give the electronics and manufacturing sectors low-cost raw material, and boost Indian exports of automobiles, machinery, cotton yarn and medicines.

### 5. Where is Piyush Goyal travelling on 13 July?
He will go to Brussels with External Affairs Minister S. Jaishankar and Minister Ashwini Vaishnav to attend a meeting of the India-EU Trade and Technology Council (TTC).

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