India and Mexico Engage in PTA Discussions to Strengthen Trade and Investment Relations
NEW DELHI: India and Mexico have initiated negotiations for a Preferential Trade Agreement (PTA), formalized by the signing of the Terms of Reference. This agreement aims to enhance bilateral trade, stimulate investment, and create business opportunities while diversifying supply chains. The discussions follow a commitment made by Prime Minister Narendra Modi and Mexican President Claudia Sheinbaum during the G-7 Summit in Canada in June 2025.
The Terms of Reference outline the framework for negotiations, which will address various aspects including market access for goods, rules of origin, customs procedures, trade facilitation, dispute settlement, and sanitary and phytosanitary measures. The PTA is designed to be mutually beneficial, focusing on creating new economic opportunities for both nations.
Automotive, Pharmaceuticals, and Electronics Among Potential Sectors
The proposed agreement seeks to leverage the complementary strengths of the Indian and Mexican economies, particularly in sectors such as automotive, chemicals, electronics, pharmaceuticals, agri-food, energy, critical minerals, medical devices, and advanced manufacturing. Mexico represents a significant market for Indian exporters and investors, with established connections to global value chains.
Commerce Secretary Leads Discussions with Mexican Delegation
During a recent visit, Indian Commerce Secretary Rajesh Aggarwal engaged in discussions with a Mexican delegation to explore ways to boost trade and investment flows. The Mexican side was represented by Deputy Minister of Foreign Trade Luis Rosendo Gutierrez Romano, who participated on behalf of Minister of Economic Affairs Marcelo Ebrard Casaubon. The two delegations reviewed the broader economic agenda, identifying opportunities to strengthen cooperation and deepen trade ties.
Additionally, India and Mexico discussed the potential for a Mexican business delegation to visit India in the first quarter of 2027. This mission aims to facilitate business-to-business meetings, identify opportunities, and enhance trade relations between the productive sectors of both countries.
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