Mexico is offering ample opportunities for investments, as the rules and regulations of this country are more favourable for the investors, Mr. Rodrigo Blanco, Director, Trade and Investment Promotion Agency ProMexico said and added that investment from India to Mexico is over USD 3 billion and from Mexico to India is USD 800 million.
“Mexico is the fourth largest trading partner for India from Latin America with a bilateral trade volume of $6.1 billion per annum. India is the biggest exporter of automobiles and auto components and India’s export to Mexico is over USD 3.7 bn. But there is tremendous scope for Mexico to become the leading trade partner of India in Latin America as both countries have huge potential for collaboration in automobiles, auto components, pharmaceuticals, information technology, infrastructure, renewable energy and downstream sectors of petroleum products,” said Mr. Rodrigo Blanco, at an interactive meeting in the World Trade Centre, Mumbai.
Mr. Esteban Puente Bustindui, Commercial Director of World Trade Centre, San Luis Potosi, Mexico, while speaking on the occasion, said that India is the largest exporter of automobile and auto-components, electrical goods, textile, pharmaceutical and other products to Mexico and there is even great opportunity for investment by Indian companies in Mexico.
Mr. Vijay Kalantri, Vice Chairman, World Trade Centre, Mumbai said that, “India and Mexico enjoy excellent trade relationship and there is tremendous opportunity for commercial collaboration in various unexplored sectors between both the countries. Especially, Industries which consume more power can enjoy energy at cheaper rates and other benefits by setting up plants in Mexico. There is huge potential for trade and investment in various sectors between both the countries, but far-off distance and freight between both the countries are the hindrances, but setting up of Manufacturing plant in Mexico for export to other Latin American countries and even to USA can be explored.”
By Premji
