Indo-Mexican trade likely to increase 10 pc this fiscal: envoy

Kolkata: Trade between India and Mexico is expected to increase 10 per cent during the current financial year, Mexican Ambassador to India Federico Salas said on Tuesday.

The volume of bilateral trade was USD 10 billion last fiscal, he said.

“Mexico is the first trading partner of India in the Latin American region. India has also emerged as one of the top 10 trading partners of Mexico,” Salas told reporters at the Indian Chamber of Commerce here.

This fiscal, Salas said the volume of bilateral trade is expected to rise 10 per cent due to trade dynamism between the two countries.

Mexico exports oil, automobile products and communication gadgets to India, and imports technology, auto parts, chemicals and pharmaceuticals from this country.

More than 200 Indian businesses are operating in Mexico, the envoy said.

He also said women entrepreneurs from India are welcome in Mexico.

Due to issues of human trafficking, Salas said Mexico has become strict in issuing visas.