New Delhi, Sept. 24 -- India and Mexico are likely to sign the Terms of Reference (ToR) for a proposed preferential trade agreement (PTA) in early October, people close to the development told Moneycontrol.

Commerce and Industry Minister Piyush Goyal or Commerce Secretary Rajesh Agrawal could represent India at the signing.

According to the report, the proposed PTA is expected to cover areas including trade in goods, market access, rules of origin, customs procedures and trade facilitation, trade remedies, sanitary and phytosanitary measures, technical barriers to trade and dispute settlement.

Currently, India's export basket to Mexico is led by automobiles and auto parts, followed by pharmaceuticals, engineering goods and chemical pro...