India and Mexico have been together for 70 years, and currently have a "Privileged Partnership ". In 2018, bilateral trade between India and Mexico exceeded 10 billion dollars (source: Bank of Mexico)
Trade grew from 6.4 billion dollars in 2016 to 10.16 billion dollars in 2018. Approximately 10 years ago, India was not among the twenty major trading partners of Mexico, but in 2018 it is already the ninth most important trading partner globally. India joined the league of the ten most important partners in Mexico in 2017.
Imports from India have found new markets in recent years, with a record of almost 80 million dollars in 2017, in ceramic products, becoming the third largest supplier for this market with an increase in Indian imports of 262%, footwear and its parts reached in 2018 a total of 35.103 million dollars. Glass containers are another important item in Indian imports, with a constant increase since 2013 reaching 20.5 million dollars last year. The pharmaceutical sector is another of the most important in the bilateral relationship, last year showed recovery reaching 120 million dollars.
Mexico has been an important source of Crude Oil for India, with a value of more than 3.73 billion dollars. Iron and steel are also an important sector of Mexican export with a value of 20 million dollars in just the year 2018. Copper elements with a value of 30.9 million dollars while Mexican Tequila is already showing growth in the bi-lateral relationship. Mexican products that have not yet been explored and that could find a potential market in India are Silver, Corn, Gold, and Mezcal.
Mexico has received Indian company's joint investments of more than 3 billion dollars mainly in the sectors of Pharmaceutical, Information Technology, and Automotive.
IMBC is the leading business advocacy organization dedicated in strengthening the ties between both countries in economic and commercial sectors. Committed to building on this solid foundation by working with both governments to set strategies and share best practice that strengthen the India- Mexico Bilateral relation. To boost our collective competitiveness in the global marketplace and grow our economies.