Businessmen from Mexico and India sign agreement to promote nearshoring – El Sol de Durango

Business leaders from Mexico and India signed an agreement to take advantage of the opportunities of the nearshoring and promote future trade agreements between both countries.

In conference, India’s Finance and Corporate Affairs Minister Nirmala Sitharamanhighlighted that companies in sectors such as pharmaceutical, information technology, manufacturing and mobility are interested in invest in Mexico

“India is an ideal partner to secure supply chains, and joint efforts with Mexico can help strengthen them through diversification, especially for pharmaceutical and other electronic products,” the minister said.

Sitharaman highlighted that Mexico, consolidated as a key manufacturing platform, and India, on her way to becoming the third world economy by 2030, They can benefit greatly from this cooperation.

Among the sectors with the greatest potential to collaborate, he mentioned the technologicalwhere India is a global leader in digital economy.

He indicated that there are opportunities for develop software, data analysis and cybersecuritywhich coincides with Mexico’s intention to position itself as a technological hub in Latin America.

In the sector pharmacistthe minister highlighted the success of the Indian popular pharmacy program, PMBJP, which offers affordable medicines. He proposed replicating this model in Mexico and promoting joint research in this area.

He also highlighted the importance of forming alliances in the manufacturing sectorkey for both countries, with the component production and mutual supply as a way to boost their economies.

For its part, Francisco Cervantes, president of the Business Coordinating Council (CCE), stressed the importance of strengthening trade and investment ties between the two countries.

He assured that Mexico is strategically positioned as a gateway to the US market.

Cervantes and Sitharaman They agreed that the private sector must lead these collaborative efforts.

The minister urged companies from both countries to take the initiative and participate in joint projects that boost economic growth and job creation.

Finally, Shri Chandrajit, Director General, Confederation of Indian Industry (CII), invited Mexican companies to participate in India’s digital transformation.

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He highlighted that the Indian pharmaceutical industry could double in size in the next five years and stated that the collaboration between the CII and the CCE will strengthen the bilateral relationship in the future.