We Have To Make India More Visible To Mexican Traders, Says Mexican Ambassador
India and Mexico have a very long-standing relationship with each other. Mexico was one of the first Latin American Countries to recognize India as an independent state in 1947. Both countries are a part of the G20 group. India and Mexico have striking similarities in terms of geo-climatic conditions, biodiversity, physiognomy and people, cultural and family values, as well as European connections of the colonial era.
Trade between the two nations has been steadily increasing on an average of 30% each year. Two-way trade between both the nations amounted to US$ 6.3 billion in 2014. Mexico's main exports to India include; petroleum, machinery, fertilisers, and chemicals while at the same time, India's exports to Mexico include; textiles, gems, jewellery, leather, and software. In an exclusive interview with BW Businessworld, Mexico’s Ambassador to India Melba Pria talks about India’s trade tango with Mexico.
What is your current view of the trajectory of the Bi-Lateral relationship between India and Mexico? Do you see a growth?
It is growing and is an important relationship for both the countries. Mexico was the first country that recognized India as an independent state post-independence. This is a very long-standing relationship. Although our trade is only up to 7 billion dollars, which is only scratching the surface when it comes to two such big nations, which are a part of G20 nations. We are the biggest investor of Latin America in India and India invests the maximum in Latin America in Mexico. India is Mexico’s third buyer of oil. 95 per cent of what India sells to Mexico is manufacturing, which is really important for Make In India project. 1.5 million Indian cars are sold in Mexico. We have been promoting more commerce in each other’s market. India has strict policies for incoming trade, that makes life a little less easy for Mexicans. We have found a way to be present in each other’s market.
How do you think Mexico can contribute to improving the Indo-Mex Relationship? Considering the last high-level visit from Mexico was in 2007?
We have to make India more visible to Mexican traders. The idea that the two countries are geographically too far apart from each other has to go away. Mexican traders perceive India as a closed market, hence they invest in the country. Mexico has more than 40 FTA’s (Free Trade Agreements) in the world. We are traders, we know about trading and we like trading. We believe our economy is enhanced with FTA’s. In the case of India, it will come around slowly, we are working around those issues of making India more popular for traders.
As we have just completed a year of demonetization recently, how do you think the drive has affected Mexican business in India?
Mexican Companies have not come up with any real issues when it comes to the effects of Demonetisation. The only thing that changed was the mindset of using digital money rather cash. It was a little inconvenient for everyone in the beginning, but later on, we all got used to it.
India is now in the top 100 countries on ease of doing business, how does that change Mexico’s view about India?
We have close to one-billion-dollar investment in India. Mexican investment in India is growing more rapidly, what we want to see more is trade not only investment. It is a win-win situation; it creates jobs for people of both the countries. Biggest IT presence outside India is in Mexico. Business has found ways to flourish between the two countries.
What is the common man’s view of India in Mexico, in what light do they see this country? Is there enough people to people contact?
Mexicans have a romantic idea about India. Mexicans love to come to India. Last year, we had 50,000 Indians coming to Mexico and a hundred thousand Indians going to Mexico. India is a part of our literature and culture in Mexico. Mexican’s feel at home in India Mexico is a very warm and welcoming country for India. You got to live it to believe it.
