On Wednesday, Foreign Minister of Mexico, Marcelo Ebrard Casaubón, accompanied by a large business delegation is visiting India for the first time. The focus of the three day visit is going to be on deepening trade and investment ties, expansion of cooperation in the health sector with special focus on joint production of vaccines for various diseases, space, ICT, minerals and metals, and more.

The visit is from March 30-April 1, 2022 and besides New Delhi, he will be visiting Mumbai too where the focus is on building more trade ties and seeking concrete opportunities in various sectors. The minister is on a ten day long travel in the Middle East where he is visiting Saudi Arabia, Qatar and the United Arab Emirates and his last destination on the itinerary is India. The focus of his visits to all the countries is on identifying investment opportunities, the hike in energy prices as well as food security.

A top diplomat has confirmed to Financial Express Online, “In Mumbai the visiting minister will have a roundtable with CEOs of top companies including TCS, Mahindra Group and others.”

“In the Space cooperation there are both regional and bilateral components. Indian Space Research Organization and space agencies of Mexico and Latin American and Caribbean Space Agency (ALCE) are likely to be firmed up, ”the diplomat added.

About the visit and agenda

According to the official statement issued by the Ministry of External Affairs (MEA), this is his first visit in the capacity as Foreign minister and it follows external affairs minister Dr S Jaishankar’s visit to Mexico City in September 2021.

In New Delhi, the two Ministers are expected to undertake a comprehensive review of bilateral relations and will also discuss international issues of mutual interests. This exchange of visits is expected to further strengthen the `Privileged Partnership ‘between the two countries.

In 2021, for the first time in 41 years, Dr Jaishankar had visited Mexico at the invitation of his counterpart Mr Casaubón, and during his three day visit he had meetings with CEOs of major companies and the business community as well. This was the first visit by a foreign minister of India to that country; the last one was by the then foreign minister PV Narasimha Rao. Dr Jaishankar had also met with President Manuel Lopez Obrador, and represented India at the Independence Day Celebrations in Mexico City.

India-Mexico Bilateral Trade

According to MEA, Mexico is India’s second largest trade partner in Latin America currently and for the period 2021-22, is a member of UNSC alongside India.

The data available in the public domain, despite the COVID-19 pandemic, the bilateral trade between the two countries has touched more than USD 10 billion plus and this is most related to the pharmaceuticals, auto sector, machinery, electrical goods.

Financial Express Online has reported earlier that for Indian companies, Mexico is a preferred investment destination, as they get easy access to NAFTA and Latin America. And the preferred sectors for investments are in Pharmaceuticals, Information Technology and Auto Sectors, R&D and innovation, Science and Technology, Aerospace, Cyber ​​Security. After the US, according to reports, India is the second biggest supplier of motorcars and other transport vehicles.

Top IT companies like Wipro, Infosys, TCS are already present in Mexico and have helped in creating jobs for the local population and also helping in upgrading the caliber of the IT students in that country.

What does India export to Mexico?

India has been exporting automobiles, auto parts, electronic equipment, steel, aluminum products, electrical machinery, chemicals and much more from the health sector.

Why is Mexico important?

Under President Obrador, Mexico assumed an important role in the region when it held the Presidency of the Community of Latin American and Caribbean States (CELAC). Earlier this year, New Pro-Tempore Presidency has been assumed by Argentina

Space Cooperation

Also Read: ‘Time for ISRO to step up efforts and extend a hand to the Latin American Region’

In 2021, in the presence of leaders from Latin America and the Caribbean (CELAC) who had gathered in Mexico City, a Latin American and Caribbean Space Agency (ALCE) was set up. For the first time in the 21st Century 12 Space agencies from the region had come together on a continent.

The creation of ALCE was announced by the governments of Mexico and Argentina in 2020.

In an earlier interaction with Financial Express Online, Dr Adolfo Chaves Jiménez, Researcher Coordinator, Space Systems Engineering Laboratory (SETEC Lab) School of Electronics Costa Rica Institute of Technology had suggested that ALCE and ISRO could work as partners, and help in space telecommunications, experiments and much more.

Read more: ALCE & ISRO can work as partners to access orbit, communications and more, says expert

Mexico in 2021 at the CELAC meet had proposed creation of a constellation of satellites for earth observation.

India-Mexico Energy Cooperation

As has been reported earlier, Mexico emerged in 2019 as the most important supplier of crude oil for India which was the third biggest market of Mexican crude oil.

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