With South American nation Mexico inviting the Indian businesses to invest in areas like energy and telecommunication, the government has said both countries...
With South American nation Mexico inviting the Indian businesses to invest in areas like energy and telecommunication, the government has said both countries need to look at ways to relax visa norms for businesses and tourists to enhance economic ties between the two countries.
“It could be reciprocal or it could be one-way, but I think this is something which we need to do because if there is people-to-people contact, I believe the business itself will continue to grow,” commerce secretary Rita Teaotia said in New Delhi on Friday.
Teaotia was addressing industry captains in the presence of visiting Mexican foreign minister Claudia Ruiz-Massieu Salinas. The secretary said if the countries do not work on the visa issues, it would be difficult for the industries and tourists to move between the two countries.
She further said huge trade opportunities exist in both the countries and the current trade figure of $6.2 billion “is just a fraction of what we can do”. “Mexico is the largest silver producer and fourth largest gold producer and we have an insatiable hunger for both,” Teaotia said, adding that both sides need to explore and work with each other’s industries.
There are opportunities to further enhance cooperation, including in tourism, services, pharmaceuticals, petroleum and automobile sectors. “India has the opportunity to sell goods like consumer goods. It has a huge demand in Mexico,” the Mexican minister said, adding that her country has take several steps to facilitate foreign investments. Massieu Salinas, who arrived earlier in the day in New Delhi on a two-day visit to India, will be holding discussions on various issues with foreign minister Sushma Swaraj on Saturday.