India and Peru will revive talks on a free trade agreement (FTA) from April 8, Indian government sources said on Wednesday, March 20.
The sources said that the FTA talks between the two countries had been stalled by Covid-19 and that before the April 8 talks the countries will exchange lists of goods and services expected to be covered under the trade agreement.
They said that the Model Code of Conduct has come into force after India announced national elections during the April-June period, which prevents the government from taking any policy decisions. However, the code would not impact trade negotiations as this was an ongoing process and the code bars the government only from taking any new policy decisions.
The proposed FTA with Peru is significant for India as it seeks to increase its presence in Latin American countries in line with the policy decision to diversify beyond traditional markets, the sources said.
