Overview
- The two governments signed Terms of Reference to formally launch Preferential Trade Agreement talks on Oct. 28, 2026, and senior officials led the opening of negotiations in Mexico City.
- The ToR establishes the roadmap and core chapters for talks, including market access for goods, rules of origin, customs and trade facilitation, sanitary and phytosanitary standards, technical barriers to trade, dispute settlement, and trade remedies.
- Officials identified priority sectors — automotive, chemicals, electronics, pharmaceuticals, agri‑food, energy, critical minerals, medical devices and advanced manufacturing — as targets for easier market entry and investment.
- India exported $5.73 billion of merchandise to Mexico in 2025–26, with automobiles accounting for $1.92 billion, and the talks aim to address Mexican tariffs that reach up to about 50% on some Indian goods.
- Next steps include planned business outreach such as a possible Mexican business mission to India in Q1 2027 and the start of substantive negotiating rounds under the agreed ToR roadmap.