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India-Mexico Summit: Sitharaman Boosts Trade Ties in Key Sectors
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, participated in the India-Mexico Trade and Investment Summit in Mexico City. The event, themed “Enhancing Trade and Investment Collaboration,” attracted key stakeholders from both nations to explore multi-sectoral cooperation. The summit was organized by the Trade & Commerce Council of India, Confederation of Indian Industry (CII), and the Embassy of India in Mexico.
Strengthening India-Mexico Economic Ties
Addressing the summit, Sitharaman emphasized that the India-Mexico partnership holds potential for significant growth across various sectors, particularly in pharmaceuticals, manufacturing, and automotive industries. She highlighted India’s political stability, large skilled workforce, and growing infrastructure as attractive factors for foreign investment. Joint efforts between the two nations could focus on diversifying critical supply chains, especially in high-tech components such as semiconductors and printed circuit boards (PCBs).
Focus on Digital Economy and FinTech
Sitharaman underlined India’s emergence as a global leader in the digital economy, citing an 87% adoption rate in the FinTech sector. With India’s successful initiatives like UPI and IndiaStack, she pointed out that the growing digital ecosystem in Mexico presents fertile ground for cross-border collaborations in FinTech and digital payments.
Expanding Collaboration in GIFT City and MedTech
Sitharaman invited Mexican entities to explore opportunities in India’s GIFT-IFSC, which is becoming a global hub for reinsurance, sustainable finance, and specialized services like aircraft and ship leasing. Additionally, the summit emphasized the need for greater B2B interactions in pharmaceuticals and medical technology, encouraging deeper sourcing and investment opportunities in these sectors.
On the sidelines of the event, an MoU was signed between the Confederation of Indian Industry (CII) and the Mexican Business Coordinating Council (CCE), further solidifying the collaborative ties between the two countries.
The summit concluded with optimism for increased bilateral trade and investment, particularly in emerging technologies like 5G, AI, and consumer electronics.
