Nirmala Sitharaman, the finance minister, encouraged Mexican companies on Thursday to look into joint ventures with academic institutions and startups and to benefit from India’s business-friendly regulations.
During her speech at the Chamber of Commerce’s Tech Leaders Roundtable in Guadalajara, Sitharaman focused on the potential and obligations for economies in similar positions as well as the ways that Mexico and India can cooperate and benefit from one another.
According to her, Mexico has been prospering as a result of nearshoring, which has led to partnerships between global corporations, allowed for talent interchange, and allowed for cooperative efforts to reduce risk.
“The Union Finance Minister highlighted that rapid transformation that has been taking place in India while working towards the goal of #ViksitBharat in 2047,” the finance ministry said in a post on X.
She mentioned new areas of development and cooperation between Mexico and India, citing the important budget announcement about the establishment of Centres of Excellence (CoEs). She also provided details about the newly identified and announced COEs in India that are working in the fields of artificial intelligence (AI) in sustainable cities, agriculture, and health and healthcare.
According to her, companies and academic institutions in Mexico and India can investigate collaborating in these fields.
“Union Finance Minister Smt. @nsitharaman said that for large economies, the challenges are not just around growth but also to bridge gaps and create opportunities for all, and that there is a need for #ResponsibleCapitalism,” it said.
The finance minister honoured the legendary industrialist Ratan Tata while she was at the Tata Consultancy Services Headquarters (Latin America) in Guadalajara.
Ratan Tata, the 86-year-old senior industrialist and chairman emeritus of the Tata Group, died on 9 October.
In order to improve legislative collaboration and promote economic development, Sitharaman will meet bilaterally with her Mexican counterpart, Rogelio Ramirez de la O, and speak with a number of Mexican Parliament members during her official visit, which runs until October 20.
Also read: Viksit Workforce for a Viksit Bharat
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