Overview
- Mexican and Indian delegations signed Terms of Reference on October 28, 2026, formally opening technical negotiations for a Preferential Trade Agreement.
- The agreed ToR sets a broad agenda covering market access for goods, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary rules, technical barriers to trade, dispute settlement and trade defence.
- Mexico enters talks with a large trade deficit with India: 2025 data show bilateral trade of about $11.1 billion, with Mexican exports of $1.97 billion and imports of $9.13 billion, according to Banco de México.
- Officials discussed a Mexican business mission to India in the first quarter of 2027 to help companies find buyers and investment partners while tariff lines and concrete concessions remain to be negotiated.
- If negotiations yield tariff openings for Mexican exporters in sectors such as autos, pharmaceuticals and agro‑food, Mexico could diversify supply chains and boost exports, but exact product coverage, tariff cuts and a timeline for conclusion are still undecided.