Peru, the world's sixth top gold producer, is planning to
sign free trade agreements(FTA) with India in a bid to boost its shipments of
gold and other metals and minerals to the South Asian nation. According to
industry reports from Peru, the Latin American country's shipments to India is
poised to breach $ 270 million this year.
"Currently, only 0.6 per cent of India's total gold
imports comes from Peru. Last year, we exported $270 million of gold and this
year it will be slightly more," Peru Ambassador to India Javier Paulinich
told reporters at 11th International Gold Convention.
“We have proposed to India on a free trade agreement. In
return for our minerals and metals, we would avail of your IT and other
products such as agricultural produce,” he said. “We are keen to sign the trade
pact like the ones India has signed with other countries,” the Peru Ambassador
added.
In Peru gold mining to the tune of 5 million ounces takes
place every year. Peru is also the second largest producer of silver and the
third biggest producer of copper, tin, zinc and lead.
India is the world's second top gold consumer after China.
According to World Gold Council(WGC), India imported 825 tonnes of gold in2013,
including unofficial imports. Considering the overall demand of about 900
tonnes and the unofficial-channel supply of 200 tonnes, India’s overall gold
import this year is estimated at 700 tonnes.
