Commerce and Industry Minister Piyush Goyal announced that negotiations for the proposed India-Peru Free Trade Agreement (FTA), which began in 2017, are unlikely to conclude anytime soon due to serious concerns over market access for certain products. Bilateral trade between the two nations jumped 67.5% to $10 billion in 2025-26, but India faces a significant trade deficit of $7.47 billion, primarily driven by a 78.45% surge in gold imports from Peru, totaling $7.9 billion. Key challenges include resolving duty concessions on gold, which constitutes about 90% of India’s imports from Peru. Meanwhile, trade talks with Canada are progressing well, with an Indian team visiting for the next round of negotiations under the Comprehensive Economic Partnership Agreement (CEPA) to target a $50 billion bilateral trade volume by 2030. Additionally, Minister Goyal, along with External Affairs Minister S. Jaishankar and IT Minister Ashwini Vaishnaw, will travel to Brussels for the India-EU Trade and Technology Council (TTC) meeting to supplement and ease the implementation of the finalized India-EU FTA.