New Delhi, April 27 -- For an Indian, Peru is far away geographically, nestled as it is on the Pacific coast of South America, but also in terms of its presence in public discourse. Yet, its economic ties with India have grown rapidly, with trade having risen from $66 million in 2003-04 to $4 billion in 2023-24; and there is greater potential to be tapped.

Peru is regarded as one of Latin America's most stable economies, primarily because of sound macro- economic policies and rich natural resources. The Organization of Economic Co-operation and Development has projected its GDP growth at 2.8% in 2025 and 2.6% in 2026.

The Peruvian government is treading the path of fiscal prudence, which has had a salutary effect on growth. With inflati...