S development India In a few years it is expected to represent an important market globally and be ready to consolidate big business. For this reason, Rafael Sognich, ComxPerú’s manager of economic research, considers it necessary to continue negotiations to sign. Free Trade Agreement (FTA) Between the two countries, he stayed in the fifth round.
On the Peruvian side, in addition to minerals such as gold, zinc and copper, they stand out with excellent potential for entry into cocoa, grapes, fish, Andean grains and fisheries products. If faced with a final trade deal, higher fees will have to be paid. Sognich said India.It is not the closest country to exchange with the world, but these facilities will be provided by the FTA with Peru.
According to statistics, the products that India can send to Peru ComxPeruOver the past five years, imports from Asian countries have grown by an average of 1%; In addition, as of December 2020 (US $ 825 million), they have increased by 2.7% compared to 2016. Similarly, intermediate goods or raw materials for industry accounted for more than 44% of total imports, of which yarn was the most unique.
It is also worth noting the benefits of general access to drugs such as cancer or HIV treatment, which are now essential to a health emergency and the reduction in fees is temporary.
Schnick explained that these are important sectors that can see resistance because it will take over the country’s market.
“This garment is a case that has been around for many years because we were chased in the international trade by textile manufacturers,” he said. In terms of drugs, it goes beyond a matter of health regulations and national regulations.
Another advantage of an FTA framework with India is technology transfer. The expert commented on the case of Bangalore, an Indian city that has become a Silicon Valley and is at the forefront of technological development and start-ups. “In the future, China sees it as a competitor to that extent, where we can take advantage of cultural and scientific exchanges,” he said. Under control.
Is there a system that can be used in our country on the Indian model? What lessons can we learn? Luis Capello, Peru’s business economic adviser in New Delhi, recalculated. One aspect is the anti-poverty policy of the Government of India. “That sustained effort has supported the growth of this economy. Although the poverty index in this country is still high, it has been halved in practice,” he commented..
According to the World Innovation Index – which measures the performance of economies in terms of innovation – India was ranked 81st in 2015, 57th in 2018 and 48th in 2020.
“Innovation has also become the central axis of strengthening India’s economy. Many efforts have been initiated to promote innovation in this country, which can be analyzed by our experts”, he said. Capello noted.
As part of this innovation process in India, one of the features we can reflect on in Peru refers to the digitalization of India, thereby seeking to provide online services to the majority of its people.
As of January 2021, there are an estimated 624 million Internet users in India. It is the second largest connected economy in the world and after China, the number of online users is growing by more than 8% every year, all driven by the ‘Digital India’ initiative.
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