Mexico and India have formally launched negotiations for a preferential trade agreement, following the signing of governing terms of reference on 28 October 2026.

A delegation led by Indian Commerce Secretary Rajesh Agrawal opened the talks. Negotiations will cover automotive, pharmaceutical, technology and energy markets. Formal terms of reference defining the scope and process for the talks have been signed by both parties.

Bilateral merchandise trade between the two countries totalled $7.83 billion in FY26, according to official Indian trade data. India recorded a $3.62 billion surplus in that trade, exporting $5.73 billion and importing $2.11 billion in goods.

Separate trade negotiations between Mexico and the United States intensified during 2026, with working groups launched in March.