Stories
India and Mexico to Start Trade Deal Talks Next Week
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CNBC TV18•10-10-2026, 17:56
India and Mexico to Start Trade Deal Talks Next Week
- •Commerce and Industry Minister Piyush Goyal announced that India and Mexico will launch trade deal talks next week.
- •Terms of Reference for the pact were finalized following a visit to Mexico by Commerce Secretary Rajesh Agrawal in September 2026.
- •India-Mexico merchandise trade reached $8.74 billion in 2024, resulting in a trade surplus of $2.72 billion for India.
- •Both nations are aiming for a WTO-compatible Preferential Trade Agreement to safeguard Indian exporters from high tariffs.
- •Mexico raised MFN import tariffs up to 50 percent on certain tariff lines starting January 2026, prompting constructive diplomatic engagement.
Key Questions Answered
Commerce and Industry Minister Piyush Goyal announced that India and Mexico will launch trade deal talks next week, following the finalization of the Terms of Reference during Commerce Secretary Rajesh Agrawal's visit to Mexico in late September 2026.
India-Mexico merchandise trade totalled $8.74 billion in 2024, which included $5.73 billion in exports, $3.01 billion in imports, and yielded a trade surplus of $2.72 billion for India.
Effective January 1, 2026, Mexico approved an increase in MFN import tariffs from 5% to 50% on 1,455 tariff lines within the WTO framework to support local production, correct trade imbalances, and curb non-FTA imports.
