Global Investors Summit: Mexico calls for joint MSME ventures

Mexico expressed interest in joint ventures between Indian and Mexican micro, small and medium entrepreneurs on the inaugural day of Global Investors Summit, saying that it will benefit both sides.

Mexico has expressed interest in joint ventures between Indian and Mexican micro, small and medium entrepreneurs, saying that it will benefit both sides.

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While interacting with micro, small and medium entrepreneurs (MSMEs) on the inaugural day of Global Investors' Summit on Wednesday, Mexico ambassador to India Jaime Nualart said MSMs in Mexico can form groups with whom Indian counterparts can do business.

Mexico's big industrial groups are already in India, while big Indian industrial groups are already in Mexico. "In such environment, MSMEs will not be able to withstand the competition. That is why, MSMEs from both countries can go for joint ventures," he said.

Mexico is one of the biggest silver and copper exporters in north America. It has free trade agreement with 45 countries and has signed double taxation avoidance treaty with India. It is interested in setting up auto parts, electric generators, food processing units in MP besides opening Cinepolis cinema, which is world's fourth largest multiplex operator.

Nualart expressed possibility of opening private Mexican university in Madhya Pradesh. "There are several private Indian universities in Mexico. One can come from Mexico to MP," he said responding to a query by an Indian entrepreneur.

Mexico will work in field of developing renewable energy source. Responding to complaints that Indian businessmen are cheated by Mexicans, he said a mechanism can be put in place under which mutual trust is developed.