News Letter/Press Release - August 2014
HomeNews Letter/Press Release - August 2014
 

Press Release

The India Show at the 26th Expo Nacional Ferretera

(28-30 August 2014, Guadalajara, Mexico)

 

The Confederation of Indian Industry (CII), with the support of Ministry of Commerce & Industry, Government of India and the Embassy of India in Mexico has organized “The India Show” as part of the 26th Expo Nacional Ferretera in Guadalajara, Mexico from 28-30 August 2014, at which India was the official Partner Country this year.

The India Show, the first of its kind in the commercial city of Guadalajara,  was officially inaugurated on 28 August 2014 by Mr Sujan R. Chinoy, Ambassador of India to Mexico, in the presence of President of Expo Guadalajara, Mr Eduardo Casanova, and Ms Nancy Walsh, President, Executive Vice President, Reed Exhibitions and other senior dignitaries from trade, industry and government circles.

The India Show aims to promote “Brand India” and showcase the extensive capacities of Indian industry. It seeks to cater to the growing demand for quality engineering goods in the field of construction equipment, hardware and electric equipment in the large Mexican market.

Inaugurating the Show, Ambassador Chinoy said that “The India Show”, with more than 70 Indian exhibitors, would promote bilateral trade, investment, transfer of technology and mutual understanding of each other’s strengths and business opportunities. Both India and Mexico are dynamic emerging economies. Ambassador Chinoy stressed  the importance of India and Mexico strengthening their trade ties. Bilateral trade between India and Mexico touched US $ 6.7 billion at the end of 2013. India exported nearly US $ 3 billion worth of goods, representing a diverse export basket, including chemicals, pharmaceuticals, engineering products, automotive products, textiles, handicrafts, gems & jewelry ,etc. At the India Show, Indian exhibitors are displaying high-quality engineering goods that are already being exported to the USA and several other global markets.

Ambassador Chinoy pointed out that Asian economies have posted high GDP growth rates in recent years despite the slowdown experienced elsewhere. India is now the third-largest economy in the world in Purchasing Power Parity (PPP) terms. India is expected to regain its high economic growth trajectory of 6-7 per cent in the near future. He emphasized India’s importance as a huge trade and investment partner for Mexico, with its youthful human resources, its 600 million people below the age of 25 years, and its middle class market of 300 million people. He spoke of the high quality of India’s engineering goods, ranging from sophisticated satellites to safety pins. India’s achievements in the ICT sector were already well-known. He further pointed out that Mexico had good reason to engage Asian countries like India. Between 2005-2010, Mexican exports to Asia grew annually by 17.5 % whereas its exports to its existing FTA partners grew by only 6.2%. India, with its large economy, was also potentially a large market for Mexico’s products. India was already the third-largest buyer of crude oil from Mexico, worth about US $ 3 billion annually, and co-operation in the energy sector was expected to grow particularly following recent energy sector reforms in Mexico.  

The more than 70 Indian companies exhibiting their goods at the India Show at the Expo Nacional Ferretera represent sectors such as Construction, Hardware, Electrical and Electronics Industry, Electrical Products & Appliances, Hardware, Machinery & Heavy Equipment, among others.

Ambassador urged Mexican Enterprises to go out and explore India and be part of the Indian landscape. Many Mexican companies were now present in India, such as Cinepolis, Tremec, Nemak, Metalsa, Softech, Kidzania, to expand their business.

The new Government under Prime Minister Mr. Narendra Modi is taking many steps to infuse dynamism in the Indian economy. Several reforms are already underway. In this new unfolding India, Mexican enterprises have a stake and the opportunity must not be lost, the Ambassador added. Geographical distance was no longer an impediment to forging closer economic links in the digital age, he underscored.

 Video Link: http://www.youtube.com/watch?v

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