India and Mexico sign Terms of Reference for preferential trade agreement negotiations to begin

Mexico and India take an important step towards strengthening their economic and trade relations | Photo Credit: MicroStockHub India and Mexico on Wednesday signed the Terms of Reference (ToR) to start negotiations on a trade deal between the two countries, the government announced following the signing in Mexico.The signing of the ToR follows an understanding reached between Prime Minister Narendra Modi and Mexican President Claudia Sheinbaum during their meeting on the sidelines of the G7 Summit in Canada in June 2025.“Mexico and India take an important step towards strengthening their economic and trade relations with the signing of the Terms of Reference for negotiations on a Preferential Trade Agreement (PTA), which establish the framework, scope, modalities and roadmap for negotiations aimed at creating new economic opportunities for both countries,” the government said in a release.During the signing, the Indian side was represented by Commerce Secretary Rajesh Agrawal, who held discussions with Mexico’s Undersecretary of Foreign Trade Luis Rosendo Gutiérrez Romano, who participated on behalf of Secretary of Economy Marcelo Ebrard Casaubon.“The Terms of Reference cover key negotiating areas, including market access for goods, rules of origin, customs procedures and trade facilitation, dispute settlement, sanitary and phytosanitary measures, technical barriers to trade and trade remedies,” the release said.“With its strong linkages to global value chains, Mexico is an important market for Indian exporters and investors,” it added. “Sectors with significant potential for cooperation include automotive, chemicals, electronics, pharmaceuticals, agri-food, energy, critical minerals, medical devices and advanced manufacturing, among others.”Mr. Agrawal and Mr. Romano also discussed the possibility of organising a Mexican business mission to India during the first quarter of 2027.“The proposed mission would facilitate business-to-business meetings, help identify commercial opportunities and strengthen commercial ties between the productive sectors of the two countries,” the government said. Published - October 28, 2026 07:51 pm IST