India and Mexico share special place in their respective regions as well as in the world with high capability in manufacturing, abundant natural resources and highly skilled human resources in service sector, said Mr. Anand Sharma, Minister of State for External Affairs, India.
He said that both the countries should focus on education and development of youth and derive mutual benefit out of the constant interaction between the youth of the two nations.
Mr. Eduardo Sojo, Minister of Economy, Mexico said that India and Mexico had signed an agreement to promote and protect bi-lateral trade and investment earlier this year and have formed a Bilateral High Level Group (HLG) to facilitate trade and economic cooperation.
The first meeting of the group will take place in New Delhi and will focus on improved trade relations and increased bi-lateral trade volume, said Mr. Sojo.
He said that India and Mexico can cooperate in the areas of automobile, aerospace and electronics industry. Information technology, bio-technology and pharmaceuticals can be the other areas of cooperation between India and Mexico .
Mr. Rajkumar Dhoot, Member of Parliament and Senior Managing Committee Member, ASSOCHAM said that India appreciates the policy of Mexican Government to raise income of the masses at a faster pace than the average income of the other sections of the society.
He said that Indian economy has also gone through paradigm shift by growing into a knowledge based - economy, more receptive, open and is considered a preferred destination for foreign investors.
Investments made by Indian companies in Mexico are around $ Three Billion with a potential of manifold growth in the years ahead, said Mr. Habil Khorakiwala, President, FICCI and Chairman, Wockhardt Ltd.
Indian companies are now taking keen interest in Mexico as a gateway to Latin America and North America, he said. Mexican companies are looking at India as a hub to expand their business in Asia and to take advantage of the large consumer base of India and vast pool of skilled human resources available in India, added Mr. Khorakiwala.
Indian industry has institutionalised good relation with Latin America, especially Mexico, said Mr. Subodh Bhargava, Past President, CII. India can serve as a gateway to Asia for Mexico and both the countries should identify and focus on sectors for opportunities, he said.
India and Mexico have their strengths in manufacturing sector and should create a strong and long-term partnership to explore opportunities in this sector, said Mr. Bhargava. Services Sector is another area of common interest between the two countries, he added.
Confederation of Indian Industry
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