Large number of important bilateral cooperation agreements exist between India & Peru in areas like Antarctic exploration, agricultural research, space research, software, tourism, etc. The two countries are exploring possibilities of cooperation in areas like IT, defence, handicrafts, etc.

Bilateral trade has grown sharply in the last few years to over US$ 80 billion annually. Indian exports during 2002 were US$ 62.7 million (cif) while Indian imports were US$ 21.7 million (fob).

India exports a wide diversity of goods to Peru like drugs & pharmaceuticals, organic and inorganic chemicals, two wheelers / three wheelers & their parts, automobile parts, rubber tyres, yarns, textile & readymade garments, electrical and other machinery, iron and steel products, etc. On the other hand, the main imports from Peru are minerals and concentrates, fishmeal, rough silver, etc.