India, Oct. 26 -- India and Mexico will sign the terms of reference (ToR) this week to formally launch negotiations for a preferential trade agreement (PTA), aiming to protect Indian exports from recently imposed high tariffs in the Mexican market, officials said.

The proposed agreement is expected to cover key Indian exports, including automobiles, textiles, footwear, plastics, steel, chemicals and toys, which face tariffs of up to 50% under Mexico's new tariff regime.

Both countries have finalised the terms of reference and are expected to sign the document in the next couple of days, the officials said, requesting anonymity. Commerce secretary Rajesh Agrawal is visiting Mexico from Monday as part of a week-long trade mission that als...