India and Mexico: a Privileged Partnership and a trade balance tilted towards Indian exports

Background

Mexico, which gained independence from Spain in 1821, was the first country in Latin America to establish diplomatic relations with independent India in 1950. A 'Privileged Partnership' was established between the two countries during a visit by the then President of Mexico to India in 2007. India is Mexico's ninth largest trading partner, with a bilateral trade of US$ 11.090 billion in 2025, made up of Indian exports of US$ 9.13 billion to Mexico and imports of US$ 1.969 billion from Mexico. The most important items of export from India are automobiles and auto parts, pharmaceuticals, engineering goods and chemical products; from the Mexican side the most important item is crude oil which occupies 75% its export basket. India's investments in Mexico up to 2024 are around US $ 4 billion and over 250 Indian companies have a presence in Mexico, while the total investment of Mexican companies in India is approximately USD 810 Million. The ITEC program was extended to Mexico in 1991 and 35 training slots are available annually to Mexican participants. Mexican wheat varieties and hybrids developed with scientists based at CIMMYT in Mexico were instrumental in the success of the Green Revolution in India.