New Delhi [India], The seventh round of talks for an India-Peru trade agreement concluded in New Delhi on Thursday. Recent talks have made significant progress toward fostering closer economic relations between bot countries. The talks were held from 8 to 11 April and representatives of both India and Peru had fruitful discussions with the aim of understanding each other's priorities and concerns with the common goal of ensuring mutual cooperation. Honors and Benefits “The history of India-Peru diplomatic relations dates back to the 1960s,” Commerce Secretary Sunil Barthwal said at the beginning of the talks. H further said that the bilateral discussions held during the 9th CII India-LAC Conclave in August last year were instrumental in resuming the dialogue.Peru's ambassador to India called the recent talks at the grassroots level and showed confidence in boosting trade. Partnership between the two countries “The recent talks have laid the groundwork for a solid foundation and demonstrate confidence in the outcome of the talks towards promoting the partnership,” said Peru's Ambassador to India, Javier Manuel Paulinich Velarde, during the recent trade During the talks, there has been substantial convergence between the two countries. During the round the text of the Agreement was achieved, which reflects the commitment of the bot parties to advance bilateral trade relations, both the countries had detailed discussions addressing the aspirations and sensitivities of both India and Peru, leading to Paving the way for a comprehensive mutually beneficial agreement. With significant growth in bilateral trade over the past two decades, Latin America has emerged as a major trading partner for India in the Caribbean region. From a modest figure of US$66 million in 2003, trade between India and Peru has grown to approximately US$3.68 billion. The dollar has increased. The ongoing 2023 trade agreement negotiations have immense potential to boost cooperation in various sectors, creating new avenues for mutual benefit and progress.The next round of talks is scheduled for June 2024, with inter-sessional talks on virtual conferencing expected to address this. Outstanding Issues As talks progress, stakeholders from both countries remain optimistic about the prospects for deepening economic cooperation and opening up new opportunities for trade and investment.