The festival is also being held simultaneously in Cuba, the next stop of the Vice President.
Ansari's Peruvian counterpart Marisol Espinoza was also present at the inaugural ceremony which saw the staging of "Nrityarupa" to loud applause.
The programme was a mosaic of six Indian dances - Bharatnatyam, Kathak, Odissi, Manipuri, Kathakali and Chhau.
Several old and new Indian movies, classics as also potboilers, ranging from Dadasaheb Phalke's 'Raja Harischandra' to Raj Kapoor's 'Bobby' and Aamir Khan's 'Taare Zameen Par' are being shown in the festival.
Culture Secretary Ravindra Singh said that the Festival of India comprises a film festival, a dance festival and a literary festival.
Indian Ambassador Manpreet Vohra said that people of Peru have great interest in Indian culture in all its forms - from food to music, from yoga to spirituality to dance and Bollywood.
Ansari arrived here earlier today on a three-day official visit.
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