Mexico can be a ‘Key Manufacturing Hub’ for Indian Firms, says Diplomat Adolfo Garcia Estrada
Mumbai:
Port Wings News Network:
(L to R): Ratheesh Nair, Regional Director, Indian Chamber of Commerce; Adolfo García Estrada, Consul General of Mexico in Mumbai, being felicitated by Sangeeta Jain, Chair – Maharashtra Committee, Indian Chamber of Commerce and Senior Director, All India Association of Industries; Santosh Kotre, Director, Finance and Accounts, World Trade Center Mumbai.
Mexico’s strong manufacturing base, large domestic market and close integration with the North American economy offer significant opportunities for Indian companies seeking to expand their international presence, Adolfo Garcia Estrada, Consul General of Mexico in Mumbai, has said.
Addressing the gathering during the India–Mexico Business Roundtable organised at MVIRDC World Trade Center Mumbai in association with the Indian Chamber of Commerce and All India Association of Industries, Adolfo Garcia Estrada said, “Indian businesses can explore opportunities across automobiles and auto components, aerospace, information technology, pharmaceuticals, medical devices, electronics, chemicals and petrochemicals. Mexico can serve not only as an important domestic market but also as a strategic base for manufacturing, distribution and access to markets across North America and Latin America.”
Adolfo Garcia Estrada stated: “Indian companies have considerable potential to establish a stronger physical and manufacturing presence in Mexico. He pointed to opportunities for Tier 2 and Tier 3 automotive component manufacturers, IT and engineering companies, pharmaceutical producers and chemical manufacturers, where Indian industry has established capabilities. Mexico’s proximity to the United States and its industrial ecosystem can also provide advantages to Indian companies serving North American customers and that the Consulate General of Mexico in Mumbai can support Indian businesses with market and regulatory information, identification of suitable partners, connections with local authorities and facilitation of business and investment visits to Mexico.”
Sangeeta Jain, Senior Director, All India Association of Industries, said, “India and Mexico have considerable untapped potential to expand bilateral trade and investment by moving beyond conventional exports towards joint ventures, technology partnerships, manufacturing collaboration, sourcing arrangements and two-way investment. With bilateral trade crossing US$11 billion, the two countries should focus on converting their complementary strengths into concrete commercial opportunities. India’s capabilities in manufacturing, pharmaceuticals, automobiles, engineering, technology and entrepreneurship, combined with Mexico’s industrial ecosystem and strategic location, provide a strong foundation for a deeper economic relationship and bilateral trade can be doubled in next 5 years.”
The event emphasised the need to strengthen business-to-business linkages, investment partnerships and sector-specific collaboration between India and Mexico. The interaction concluded that the complementary strengths of both countries can create new opportunities for trade, investment and long-term commercial partnerships.
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