Ambassador addresses Business Coordinating Council of Puebla, 20 August, 2013

Posted on : 30-10-2013 | Back | Print

Ambassador Sujan R. Chinoy visited Puebla on the 20th of August, 2013 to address a luncheon meeting at the Hotel Presidente at the invitation of Mr Fernando Treviño Núñez, President of Business Coordinating Council of Puebla. The business event was preceded by a city tour organized by the state authorities. A total of about 40 participants included heads of major business chambers and firms in Puebla attended the event. Mr. Roberto Marquez Alonso, President of India-Mexico Business Chamber, was also present. In his interaction with the business heads, Ambassador mentioned the linkages between India and Mexico with special reference to the state of Puebla. In the month of April earlier this year India’s Samvardhana Motherson Group inaugurated its plant in Puebla to make automotive parts for companies like Audi and Volkswagen. He emphasized on the strong economic fundamentals of the Indian economy, and the role played by the chemicals and pharmaceuticals sectors in Mexican imports from India. He particularly pointed out that India is among the top five emerging pharmaceutical markets in the world. He also referred to the growing penetration by Indian companies in the Mexican market and similar presence of the Mexican firms in India.

The lively discussion following Ambassador’s address covered issues like prospects for investment, potential for export of consumer goods to India, patent policies of India, logistics of import/export and social development and the security situation in India. Ambassador clarified all the concerns while emphasizing that India is one of the safest countries in the world with rule of law and protection through modern patent laws. He highlighted that there is high potential for trade and investment between the two countries in sectors like energy, automobile and food processing. In infrastructure alone, India would make an investment of $1 trillion investment in the next five years, which provides opportunity of Mexican firms and entrepreneurs.

The meeting was followed by a separate press conference with participation from major electronic and print media in Puebla. Ambassador provided an overview of India’s economic reforms and trade and economic engagement with Mexico. He added that the bilateral trade and investments has witnessed a high rate of growth in recent years. Several hundred of millions of dollars worth of investments have been made by some 35 Indian companies in Mexico. As of now, almost all major Indian IT companies (TCS, Infosys, NIIT, Aptech, Hexaware, Wipro, Patni Computer Systems, Birlasoft etc.) have operations in Mexico, as well as several Indian pharmaceuticals firms (Zydus Pharmaceuticals, Strides Labs, Claris Life Sciences, Hetero Drugs, Axis, Wockhardt, Sun Pharma, Dr.Reddy’s Lab, and Solara, etc.), and in engineering, auto parts, tyres, packaging, and electrical items. Tornel, which makes tyres for cars and trucks in Mexico, is owned by JK Tyre, an Indian company. Bajaj Auto has a tie-up in Mexico with Autofin for assembling and marketing its motorcycles. Similarly leading Mexican companies like Homex, Prolec-GE, NEMAK of Alfa Group, TREMAC, Metalsa, Ruhrpumpen and Cinepolis have invested in India in recent times.

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