Union Finance Minister Nirmala Sitharaman has said that the joint efforts of India and Mexico can strengthen resilience through diversification, especially for critical components like semiconductors, printed circuit boards, and other high-tech electronics.
The Finance Minister stated this while participating in the India-Mexico Trade and Investment Summit on Enhancing Trade and Investment Collaboration in Mexico City. The Minister of Economic Development for Mexico City Manola Zabolza Aldama also attended the summit.
In her address, the Finance Minister said that both countries have immense prospects to enhance economic cooperation. She said that India offers tremendous opportunities for growth and investment, especially in the pharma, manufacturing, and automotive sectors.
The Finance Minister also underlined India’s emergence as a global leader in the digital economy with an adoption rate of 87 percent in the FinTech sector with initiatives like UPI. She added that the India-Mexico partnership can provide a fertile ground for cross-border collaborations and innovation in Fin-Tech and digital payments. On the sidelines of the Investment Summit, the Finance Minister also witnessed the exchange of an MoU between the Confederation of Indian Industry and Consejo Coordinador Empresarial.
In a separate event, Nirmala Sitharaman also met the Secretary of Finance and Public Credit of Mexico Dr. Rogelio Ramirez de la O. During the meeting, she expressed India’s willingness to share its experiences with the Government of Mexico and to explore collaboration based on India’s digital transformation.
