Tamil Nadu pitches manufacturing partnership with Peru as bilateral trade crosses $10 billion
Tamil Nadu has expressed its readiness to forge long-term partnerships with companies in Peru, positioning the State as a key manufacturing destination for Peruvian resources. This comes in the backdrop of India and the Latin American country moving closer to concluding a comprehensive Free Trade Agreement (FTA).
Speaking at the reception marking the 205th Independence Day of Peru in Chennai on Monday, Tamil Nadu Industries, Investment Promotion and Commerce Minister Smt. S Keerthana said the proposed India-Peru FTA would create new opportunities across sectors such as mining, pharmaceuticals, renewable energy and advanced manufacturing.
“Our bilateral trade has now crossed $10 billion, making Peru India’s one of the largest trading partners in Latin America by imports. The proposed FTA promises to unlock even greater opportunities,” she said.
Tamil Nadu has built a globally competitive manufacturing ecosystem spanning automobiles, electric vehicles, electronics, aerospace and precision engineering, backed by skilled talent, robust infrastructure and policy stability.
“As the world reorganises supply chains around resilience, clean energy and advanced manufacturing, Peru and Tamil Nadu are natural partners. When Peru’s resource strengths meet Tamil Nadu’s manufacturing capabilities, both our economies stand to gain,” she added.
Enduring partnerships
Keerthana said the Tamil Nadu government was looking beyond investment attraction and sought enduring partnerships. “We are not merely looking for investors in Tamil Nadu. We are looking for long-term partners in Tamil Nadu’s journey,” she added.
Drawing a cultural connection, the minister noted that she represents Virudhunagar, and Sivakasi produces over 70 per cent of India’s fireworks. She expressed hope that “a small part of Sivakasi will light up Peru’s sky” during Peru’s 206th Independence Day celebrations next year.
Addressing the gathering, Javier Manuel Paulinich Velarde, Ambassador of Peru to India, said Chennai was playing an increasingly important role in trade, innovation and international collaboration. Peru and India were expanding cooperation across trade, investment, tourism, education and culture, with Tamil Nadu expected to play an important role in strengthening ties between the two countries.
Peru remains a major supplier of critical minerals including copper, silver and zinc, providing opportunities for collaboration in manufacturing, infrastructure, renewable energy and emerging technologies, he said.
Speaking at the event, R Dinesh, Honorary Consul of Peru in Chennai, “the FTA negotiations are in the final stages and we hope this will unlock the next phase of growth.”. Tamil Nadu is well positioned to leverage the agreement through its strengths in manufacturing, logistics, agriculture and value-added processing, he added.
With global supply chains increasingly seeking resilience, Peru’s reserves of copper, rare earth elements and other critical minerals offer significant opportunities for Indian manufacturers, said Dinesh.
