New Delhi: India and Mexico can unlock new avenues for growth, build resilient supply chains and contribute to a more dynamic and prosperous global trading order, Commerce Secretary Rajesh Agrawal said on Tuesday.
The Commerce Secretary arrived in Mexico City for a two-day official visit to advance trade and economic ties. The visit will see the launch of Preferential Trade Agreement (PTA) negotiations with the signing of the Terms of Reference (ToR), alongside engagements with the Mexican government and business community to deepen bilateral cooperation.
The Department of Commerce said in a post on X that Agrawal held a fruitful discussion with Fernando Gonzalez Saiffe, Director General for Asia-Pacific, Secretaria de Relaciones Exteriores (SRE), on India-Mexico relations and opportunities to learn from each other through mutual cooperation, leveraging our respective strengths and advancements.
He appreciated Mexico’s keen interest in strengthening political exchanges and reaffirmed India’s shared commitment to mutual growth and prosperity.
The Embassy of India in Mexico, in partnership with the Indmex Council, brought together Indian and Mexican businesses ahead of the signing of the Terms of Reference (ToR) for the proposed India–Mexico PTA.
Addressing the gathering, Agrawal highlighted the strong complementarities between the two economies, India’s robust growth of around 7 per cent, and the vast untapped potential for trade, investment and business partnerships.
The proposed PTA offers an opportunity to unlock new avenues of economic cooperation, strengthen business linkages, and build bridges across the Pacific towards shared prosperity, he observed.
The Commerce Secretary also engaged with Indian and Mexican business leaders to explore opportunities, address challenges and deepen trade and investment ties. Emphasising policy stability, predictability and a rules-based trading environment, he underscored the immense untapped potential of the India-Mexico partnership.
India and Mexico will sign the terms of reference (ToR) during the Commerce Secretary’s visit to formally launch negotiations for a preferential trade agreement (PTA), aiming to protect Indian exports from recently imposed high tariffs in the Mexican market, officials said.
The proposed India-Mexico trade agreement is expected to cover key Indian exports, including automobiles, textiles, footwear, plastics, steel, chemicals and toys, which face tariffs of up to 50 per cent under Mexico’s new tariff regime.
According to official trade data, India’s merchandise exports to Mexico stood at $5.73 billion in 2025-26, with automobiles accounting for the largest share at $1.92 billion.
(IANS)
