Mexico eyes investments from Indian automotive industry

The Automotive Component Manufacturers Association of India (ACMA) is interested in investing in Mexico, despite the North American Free Trade Agreement (NAFTA) renegotiations
Currently, India exports to Mexico vehicle models such as Vento, i10, Accent, Spark and Figo - Photo: Featured photography
28/10/2017
13:51
Sara Cantera
Mexico City
-A +A

During the first Automotive Component Manufacturers of India Expo (Expo de Fábricas Indias de Autopartes), the Ambassador of India to Mexico, Muktesh Pardeshi, emphasized that there are more than 150 Indian companies from different sectors operating in the country, representing an estimated USD$ 2 billion investment in the last 10 years.

"Last year, Mahindra & Mahindra and Spark Minda invested in Mexico. Mexico has a very strong and stable economy, it has competitive advantages, and its the bridge to North America, Central America, and South America," Muktesh Pardeshi assured.

In July, Mahindra & Mahindra (an Indian multinational car manufacturing corporation) announced the opening of its assembly and distribution center of tractors and commercial vehicles for Mexico, Central America and the Caribbean headquartered in Aguascalientes while Spark Minda (a leading manufacturer of automotive components in India and overseas) announced a MXN$ 425 million investment in a Volkswagen auto component plant in Querétaro.

Currently, India exports to Mexico 2.8% of the auto parts that it allocates to different countries of the world, along with vehicle models including Vento, i10, Accent, Beat (Spark) and Figo.

Muktesh Pardeshi added that Indian companies have a particular interest in investing in Querétaro, Puebla, Aguascalientes, San Luis Potosí, Chihuahua, and Monterrey.

During the event, the Automotive Component Manufacturers Association of India (ACMA) point out that the 2026 Automotive Industry Development Plan in India is to increase the production of passenger vehicles from 9 to 13.4 million units, while the commercial vehicle production will increase from 2 to 3.9 million.

ACMA is the central body representing the auto component industry in India with a membership of over 720 companies which is more than 85% of the output of the Auto Component sector in India.  

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