NEW DELHI: For the first time ever, India-Mexico bilateral trade has crossed $10 billion in 2018 making Mexico the most important trading partner of India in Latin American region surpassing Brazil. In the last one decade, the total trade has increased 240% out of which 58% came in the last two years since 2016.
There has been an upward swing in the relations between the two countries after Prime Minister Narendra Modi’s visit to Mexico in June 2016, when both countries decided to upgrade the bilateral relations to the level of “Strategic Partnership”. In 2008, the total trade amounted to $2.98 billion.
The trade has increased from $6.4 billion in 2016 to $10.16 billion in 2018, when a decade ago India was not even amongst the top 20 trading partners of Mexico but in 2018, India figures as 9th most important global trading partner. India entered the league of top 10 trading partners of Mexico in 2017.
The major item of export from India has been vehicles and auto-parts since 2012, in 2018, India sold only $1.7 billion worth of commodity.
