By Anjali Sharma
WASHINGTON – India Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, on Saturday invited Mexican investors to explore opportunities in India’s Global In-House Capability Centers, aircraft leasing, ship leasing, and even foreign university setups at GIFT-IFSC, which is emerging as a global hub for reinsurance and sustainable finance.
She took part in the India-Mexico Trade and Investment Summit, marked a significant step towards enhancing bilateral trade and investment ties between both countries, the Finance Ministry said in a post on social media X.
Sitharaman urged private sector leaders from both nations to drive forward this growing partnership, particularly in sectors like pharmaceuticals, MedTech, and digital innovation, to strengthen the economic ties between India and Mexico.
She highlighted the potential for a multi-sectoral partnership between India and Mexico, emphasized India’s growing strength in manufacturing, pharmaceuticals, and automotive sectors.
Ms. Sitharaman recalled the elevation of India-Mexico relations from a ‘Privileged Partnership’ to a ‘Strategic Partnership’ during Prime Minister Narendra Modi’s 2016 visit to Mexico.
She emphasized India’s political stability, a large skilled workforce, and growing infrastructure, said that joint efforts can focus on strengthening resilience through diversification, especially for critical components like semiconductors printed circuit boards PCBs, and other high-tech electronics.
Finance Minister underscored India’s leadership in the digital economy, noting that India’s fintech sector has an adoption rate of 87 per cent, bolstered by initiatives like UPI and IndiaStack.
She proposed that the India-Mexico partnership could leverage these advancements for cross-border collaborations, particularly in fintech and digital payments.
Memorandum of Understanding was signed between CII and CCE, to foster greater business-to-business interactions and increasing Mexico’s sourcing of pharmaceuticals and medical devices from India.
The Summit was to boost collaboration between the two nations in diverse sectors including IT, pharmaceuticals, healthcare, and automotive industries.
It was organized by the Trade and Commerce Council of India, in collaboration with CII and the Indian Embassy in Mexico, the summit drew in over 250 business leaders and investors across various industries.
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