New Delhi, Oct. 28 -- India and Mexico have formally launched negotiations for a preferential trade agreement (PTA), signing the terms of reference that define the scope and framework for talks aimed at expanding bilateral trade and investment, according to a press statement from the commerce ministry.

The move is part of India's broader efforts to forge bilateral trade deals to bolster exports at a time when geopolitical conflicts have forced a realignment of global supply chains.

Bilateral merchandise trade between the two countries stood at about $7.83 billion in FY26, with India recording a trade surplus of around $3.62 billion. India's exports to Mexico were $5.73 billion, down 0.38% from the previous year, while imports fell 26.59...