India and Mexico Start Negotiations for Trade Agreement

Photo: TOI Business

India and Mexico have formally begun negotiations for a preferential trade agreement to expand trade, facilitate investment, and strengthen supply chains. This follows an understanding between PM Narendra Modi and Mexico's President Claudia Sheinbaum at the G7 Summit in June 2025. The pact is crucial as Mexico raised import duties up to 50% on over 1,400 products from countries without free trade agreements, including India. Indian exports to Mexico totaled $5.7 billion last year, with automobiles contributing $1.5 billion.

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