In a significant move to bolster the Electronics and Information Technology sector, India and Peru are forging a path towards a collaborative future, leveraging the strengths of both nations to create a synergy that promises to revolutionize the industry.
Recently, after concluding the visit of the ESC India Business Delegation to Brazil and Paraguay, Rajesh Revankar, Regional Chairman (South), Electronics and Computer Software Export Promotion Council (ESC) visited another South American nation Lima, Peru to explore the market opportunities and further technology cooperation.
During his discussions with Revankar, Vishvas Vidu Sapkal, Ambassador of India to Peru shared insights about how Peru is opening opportunities across technology, smart cities, and the government’s digital infrastructure that could be avenues for Indian companies to explore.
The Free Trade agreement between the two countries is also likely to be finalized soon and will significantly boost trade and investment, enhancing cooperation across various sectors between the two countries, added Ambassador Sapkal.
According to Revankar the Peruvian side also showed interest to participate at the 25th edition of Indiasoft – International IT Exhibition & Conference scheduled to take place during March 2025 – a flagship global Electronics and IT Exhibition of the ESC which attracts leading IT players from India and over 80 countries and offers an ideal platform to experience innovative products and solutions in the Technology sectors.
“India, with its robust advancements in digital transformation and technology, stands at the forefront of the digital era. The nation’s expertise in cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), Cloud Computing, Cyber Security, Fintech, Edutech, Healthtech, and Agritech positions it as a leader in the tech domain. These sectors have witnessed exponential growth. In FY22, the IT sector contributed 7.4 percent of India’s GDP, and by 2025, it is anticipated to make up 10% of India’s GDP,” said Sandeep Narula, Chairman of the Electronics and Computer Software Export Promotion Council (ESC).
Peru, on the other hand, is rapidly emerging as a key player in the Latin American technology landscape. With a growing IT industry, Peru offers a wealth of opportunities for investment and innovation. The Peruvian government has implemented fiscal facilities to stimulate the growth of the IT industry, making it an attractive destination for foreign investors. The country’s tech ecosystem is ripe with potential, particularly in sectors like biotech, agritech, foodtech, and fintech.
Why Peru?
“The collaboration between India and Peru is set to unlock a plethora of opportunities in the Electronics and Information Technology sector. In the fiscal year 2022-23, the bilateral trade volume between India and Peru reached USD 3.12 billion, with India exporting goods worth USD 865.91 million and importing goods valued at USD 2.25 billion from Peru,” added Narula.
This partnership is not just about trade; it’s about sharing knowledge, expertise, and success, said Gurmeet Singh, Executive Director, ESC. India’s leadership in advanced technologies can help Latin American partners transition to the digital domain with high-quality and competitive products and solutions. The demand for such technologies is high in Latin America, and India’s experience in these fields can provide a blueprint for digital transformation in the region, added Singh.
“As we look to the future, the alliance between India and Peru is poised to set a benchmark for international cooperation in technology. Together, we are committed to driving innovation, fostering economic growth, and enhancing the quality of life for our citizens through the power of technology,” further added Mr Singh.
About India’s Electronics and Information Technology Sector: India’s Electronics and Information Technology sector is a cornerstone of the nation’s economy, contributing significantly to its GDP. The sector is renowned for its innovation, quality, and scale, serving not only the domestic market but also providing solutions globally.
About Peru’s Technology Ecosystem: Peru’s technology ecosystem is characterized by its dynamic growth and potential for development. The country is strategically positioned to become a hub for technology and innovation in Latin America, offering a skilled workforce and supportive government policies.
About ESC India: Electronics and Computer Software Export Promotion Council (ESC India) being the Registering Authority under the Foreign Trade Policy of the Government of India, it currently has over 2500 Indian Electronics and IT/IT Services exporters in its membership base and works as a bridge between the Government and the Industry on various policy and promotional matters. And to promote and support Indian Technology trade and cooperation with global markets.