The bilateral trade between India and Mexico is on a rising trend and that
there is huge potential for growth of Indian apparel exp Indian textiles can penetrate the Mexico market says Indian envoy to
that country orts to Mexico, the country's ambassador to the Latin american
country Manpreet Vohra said.
Speaking at ‘India-Mexico Synergies in Apparel and Textiles’, a virtual B2B
meeting organized by Apparel Export Promotion Council (AEPC) and Embassy of
India, Mexico City, Mexico, on February 15th, Mr Vohra said that the bilateral
trade has grown 46 per cent to about 10 billion US Dollars since 2014.
Mexico is now
India’s largest trading partner in Latin America
Mexico is now India’s largest trading partner in Latin America and the
second largest in entire America after the USA and having overtaken Canada and
Brazil. Our trade is also fairly well balanced with only about 1 billion US
dollars in India’s favour,” Mr Vohra said.
One of the most important products in the bilateral trade basket is garments
and textiles, and for which India is among Mexico’s top suppliers. In 2019,
Mexico imported 381 million US dollars worth of textiles and clothing items
India is one of the leading manufacturers and exporters of high quality and
competitively priced garments and textiles.Further, he said that both the
domestic market size and India’s share in global apparel trade, currently 5 per
cent, are likely to triple by 2024-25.
More than 600
companies in India certified to produce PPE; Global market for PPE to be over
92 billion US dollars by 2025
“More than 600 companies in India are certified to produce high quality
Personal Protective Equipment (PPE) today. Global market for this is expected
to be over 92 billion US dollars by 2025 up from only 52 billion US dollars in
2019. This is another good opportunity for Indian and Mexican companies to
collaborate,” the India’s envoy in Mexico said.
AEPC Chairman Dr A Sakthivel said, “At the start of the coronavirus
pandemic in India in March, the production of medical textiles in the country
was zero. Within 30 days with the help of Textiles Minister Smt Smriti Zubin
Irani and our exporters, the production of medical textiles began. And, by June
India became the world’s second largest manufacturer of medical textiles.”
account for 85 per cent of India’s total apparel exports
The Chairman further said that cotton garments account for 85 per cent of
India’s total apparel exports while the global market is exactly the opposite
with 85 per cent trade in manmade fibre (MMF) garments and 15 per cent cotton
garments. On our request, the Government has now started a Production Linked
Incentive (PLI) scheme. For this, they have identified 40 HS codes for MMF
garments and 10 HS codes for technical textiles,” Dr Sakthivel said.
Sudhir Sekhri, Chairman (Export Promotion), AEPC, said, “Of the 10 top apparel
products that are being exported from India to Mexico only one item is a MMF
fabric, all other items are cotton fabrics. This is where the gap is and where
we see growth.”a