India, Mexico to take their trade relationship to a new level : Envoy

The Ambassador of Mexico to India, Federico Salas Lotfe on Friday said that the association between India and Mexico is more than a decade old and the two countries intend to take their trade relationship to a new level after the pandemic, during which everything came to a halt.

Lotfe said now the situation is improving fast and a delegation from Mexico will come to India to discuss how they would like to facilitate Indian companies to start their business in that country.

Mexico has been an important source of crude oil and iron and steel also form an important sector of that country's export to India, according the envoy.

IT start-ups are one of the fastest-growing sectors in India and Mexico and a joint venture by the two countries in this area could be beneficial in the long run, Lofte said.

Indian pharmaceutical companies that have set up their offices in Mexico are benefited by the strategic location of the country. Bilateral trade between India and Mexico exceeded USD ten billion, according to the Bank of Mexico.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)