Latest news with #JavierManuelPaulinichVelarde
Times of Oman
2 days ago
- Business
- Times of Oman
Like to finish FTA negotiations by end of this year: Ambassador of Peru to India Velarde
Chennai: The Ambassador of Peru to India, Javier Manuel Paulinich Velarde, expressed his optimism about concluding negotiations related to the Free Trade Agreement (FTA) between India and Peru by the end of 2025, or at the latest by early 2026. Speaking to ANI on the sidelines of Peru's 204th Independence Day celebration in Chennai on Monday, Ambassador Velarde expressed his excitement over the event while highlighting the investment opportunities in the South American nation. "I'm very enthusiastic because this is the first time that we celebrate our national day in Chennai. We expect to continue in the near future... This is an opportunity to show about how is Peru, which products we can trade in the future and inform about some activity like the negotiation of a free trade agreement between India and Peru," he said. "We would like to finish a free trade agreement negotiation as soon as possible, perhaps at the end of this year or in any case at the beginning of next one... The idea is to reduce customs duties on several products and promote investment from India to Peru and from Peru to India," he added. The Ambassador highlighted recent diplomatic efforts between India and Peru, noting a visit by Peru's Foreign Ministry to India in March and an invitation extended to External Affairs Minister Jaishankar to visit Lima later this year. "We have a good relationship. In March this year, the Foreign Ministry of Peru came to India. We invite Mr Jaishankar to Lima; I think he's planning to go at the end of the year," he stated. The event was hosted by the Honorary Consul of Peru in Chennai R Dinesh and the Chairman of TVS Supply Chain Solutions, and underscored the growing economic and cultural ties between the two nations. Dinesh emphasised the potential synergies between India and Peru, noting the rich mineral resources available in Peru and the various benefits that the South American country can derive from India's vast manufacturing sector. "Considering the rich mineral resources available in Peru and the various benefits that the manufacturing sector, which is a strong presence in Tamil Nadu, has, we are very happy that the government is also supporting this endeavour to make sure we have further expansion of the opportunities," he stated. "The Indian government is actually negotiating a free trade agreement, as you have heard the Commerce Minister mention. That's something from the industry we are very much looking forward to, and from South America. Peru is one of the very stable economies and therefore has both sourcing of earth and other minerals, and also other opportunities that we see for trade. So the Indian government is looking at this in a very positive manner, and we are very delighted with that," Dinesh added. Tamil Nadu IT Minister Palanivel Thiagarajan also attended the event as the Chief Guest. The celebration also included a special session titled "India-Peru: Business and Beyond," which explored economic cooperation, investment opportunities, and cultural exchange. "We are celebrating the 204th Independence Day of Peru, but I think the idea was to actually introduce the opportunities and cultural integration between Tamil Nadu and Peru. We had the opportunity to hear the Ambassador and various others who have been invested in Peru speak about what they see as the benefits and the value of working in Peru," Dinesh further noted. Dignitaries from the diplomatic, business, and cultural spheres also attended the event, reflecting the strengthening of the bilateral relationship between India and Peru.
The Hindu
2 days ago
- Business
- The Hindu
204th Peruvian National Day celebrated in Chennai
As a major economic and cultural hub in southern India, Chennai offers exciting opportunities for deeper collaboration in trade, culture and investment, Javier Manuel Paulinich Velarde, Ambassador of Peru to India said. He spoke at an event held by The Embassy of the Republic of Peru in India and Honorary Consul of Peru in Chennai to commemorate the 204th Independence Day of the Republic of Peru, according to a press release. 'This inaugural celebration reflects Peru's commitment to strengthening its ties with all regions of India, particularly with Tamil Nadu, whose industrial dynamism innovation and global outlook align well with Peru's export and cultural offerings,' he said. R Dinesh, Honorary Consul of Peru in Chennai said, key sectors like mining, automobiles, IT, agriculture and horticulture present significant opportunities for collaboration. Minister for Information Technology and Digital Services of Tamil Nadu Palanivel Thiaga Rajan was the chief guest.
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Business Standard
2 days ago
- Business
- Business Standard
Peru pitches critical minerals to Indian firms, FTA likely by early 2026
Amid concerns over China's ban on the export of rare earths, Peru has invited Indian companies to invest, start joint venture exploration, and establish technological tie-ups in the sector to source these critical minerals from the Latin American nation. A top diplomat from the Latin American country said on Monday in Chennai that both India and Peru are expected to finalise a comprehensive Free Trade Agreement (FTA) by the end of this year or early 2026. 'Of special relevance to today's world—and to India's strategic ambitions in clean energy and advanced technologies—are Peru's deposits of rare earth minerals, including neodymium, praseodymium, dysprosium, and terbium. Peru welcomes Indian investment, joint exploration initiatives, and technological collaboration in this vital sector,' said Javier Manuel Paulinich Velarde, Ambassador of Peru to India. Addressing the first official Peruvian National Day celebration in Chennai, he added that these critical minerals are essential for the production of electric vehicles, wind turbines, electronics, and next-generation defence systems. 'By the end of this year or early 2026, we expect to conclude the Free Trade Agreement negotiations, unlocking mutual opportunities in trade, investment, agribusiness, pharmaceuticals, and technology,' Velarde said. India is now Peru's third-largest trading partner in the Latin American and Caribbean region. The India–Peru economic partnership has seen significant momentum in recent years, with bilateral trade growing from $2.34 billion in 2019–20 to $4.03 billion in 2023–24. 'As Peru emerges as a key source of critical minerals including rare-earth magnets, copper, and lithium, we see great potential for Tamil Nadu-based manufacturing industries to forge mutually beneficial partnerships,' said R. Dinesh, Honorary Consul of Peru in Chennai and Chairman of TVS Supply Chain Solutions. 'I strongly believe that the deep, shared interests between India and Peru can foster meaningful collaborations among entrepreneurs, investors, and institutions—driving outcomes that are both commercially rewarding and culturally enriching,' Dinesh said. Velarde also invited Indian companies to explore investment opportunities in the port and logistics sector. 'Peru's strategic location on the South Pacific, supported by a modern and expanding maritime infrastructure, positions us as a logistics hub and gateway to Asia—including India. This translates into lower shipping costs, shorter delivery times, and greater opportunities for regional integration. We are also pleased to highlight that new investment opportunities remain open in our port and logistics sectors,' he added. The ongoing negotiations for a comprehensive Free Trade Agreement (FTA) between the two countries are expected to deepen market access and address both tariff and non-tariff barriers. Once finalised, the FTA is expected to open up new opportunities in goods, services, and investments, particularly in sectors such as healthcare, renewable energy, digital technology, and clean mobility. 'Tamil Nadu is uniquely positioned to engage with Peru—a country rich in resources, business potential, and culture. Key sectors such as mining, automobiles, IT, agriculture, and horticulture present significant opportunities for collaboration,' he added.
