India Proposes Limited Trade Deal with Mexico Amid Tariff Hikes

• India has proposed a limited trade deal (Preferential Trade Agreement) with Mexico.
• The proposal aims to offset Mexico's planned tariff hikes on imports from non-FTA countries.
• Mexico's Senate approved a plan to raise import tariffs up to 50% on over 1,400 goods, affecting Indian exports.
• Indian exports worth approximately $2 billion, including automobiles and textiles, could be impacted by the higher tariffs.
• Discussions between India and Mexico for a trade agreement began on December 12.

Why It Matters: India seeks Mexico trade deal to protect $2 billion exports from new tariffs.