India, Oct. 28 -- India and Mexico have formally launched negotiations for a Preferential Trade Agreement (PTA), marking a step towards strengthening bilateral economic ties. The two countries signed the Terms of Reference (ToR), formally initiating the negotiations. Commerce Secretary Rajesh Agrawal and Mexico's Undersecretary of Foreign Trade, Luis Rosendo Gutierrez Romano, led the launch. According to India's Department of Commerce, the proposed agreement aims to expand trade, unlock investment, strengthen supply chains and create new opportunities for businesses in both countries.

The proposed India-Mexico trade agreement is expected to address market access for major Indian exports, including automobiles, textiles, footwear, plastic...