Currently, India is engaged in negotiations with 50 nations, both bilaterally and within blocs, aiming to establish new FTAs and revitalise dormant ones. Among these efforts is the reinvigoration of negotiations with Peru, highlighting the strategic supplies India could gain, particularly natural resources like lithium, gold, copper, and zinc from the South American country. Since the inception of negotiations in August 2017, India and Peru have conducted seven rounds of talks, notwithstanding interruptions caused by the COVID-19 pandemic. The most recent round in April 2024 in Delhi saw discussions covering various issues, including the reduction or elimination of customs duties, rules of origin, legal and institutional provisions, and dispute resolution mechanisms. The question then arises as to why this trade agreement is significant for the two countries. What does it offer for India? What concerns have emerged during negotiations, and what are the obstacles?