Commerce Secretary Rajesh Agrawal signed the roadmap in Mexico, formally starting PTA negotiations as Mexico's steep tariffs hit partners without a trade deal, India included.

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• Commerce Secretary Rajesh Agrawal and Mexico's Undersecretary of Foreign Trade Luis Rosendo Gutierrez Romano signed the Terms of Reference during Agrawal's visit to Mexico.
• India's Department of Commerce announced the formal launch of negotiations on October 28, 2026.
• The Terms of Reference set out the framework, scope, modalities and roadmap for the talks.
• They cover market access for goods, rules of origin, customs procedures and trade facilitation, dispute settlement, sanitary and phytosanitary measures, technical barriers and trade remedies.
• No final agreement has been signed yet, as only the framework for negotiations has been adopted.
• A preferential trade agreement cuts tariffs on selected goods, so its coverage is narrower than a free trade agreement.
• India began pursuing the deal after Mexico imposed tariffs of up to 50 percent on over 1,400 products from non-preferential partners.
• The talks follow an understanding between Prime Minister Modi and Mexican President Claudia Sheinbaum at the G7 Summit in Canada in June 2025.
• India's merchandise exports to Mexico were worth 5.73 billion US dollars in FY 2025-26.
• Mexico is seen as a gateway to Latin American markets and to the USMCA region as manufacturing shifts closer to the US.
• The Commerce Department is also negotiating with Chile, Peru and the Brazil-led Mercosur bloc.

Tags: IndiaMexicoPTA, TradeAgreement, LatinAmerica