India’s trade with Mexico: Transcending geography

TPCI organised the India-Mexico Buyers Sellers Meet on Ceramic & Vitrified Tiles on December 14, 2020. The BSM was inaugurated by H E Mr. Manpreet Vohra, Hon’ble Ambassador of India to Mexico, Mr. Inderpal Singh, President, India Mexico Business Chamber and Mr. Jeorge Lopez Morton, COMCE. It facilitated direct B2B engagement between 8 manufacturers and exporters from India and 12 buyers from Mexico. India’s present economic engagement with Mexico has shown impressive improvements, transcending the barriers of distance.
It is now time to enter a new era of partnership that hinges on deeper economic ties and mutual cooperation.India’s bilateral trade with Mexico has grown from US$ 1.5 billion in 2009 to US$ 8.9 billion in 2019.There exists an additional trade potential of US$ 133 billion between the two countries. Further, India has the potential to export an additional US$ 69 billion worth of goods in which it has a comparative advantage. Scope for mutual cooperation in automobiles, pharmaceuticals, Information Technology and machinery sectors is immense, given that India’s export and import basket with Mexico are highly concentrated in a few sectors.Greater people-to-people contact needs to be encouraged for strengthening ties. It is now time to enter a new era of partnership that hinges on deeper economic ties and mutual cooperation.