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India Moves Closer to Mexico and Canada: They Seek to Diversify Trade Partners Amid Tensions with the U.S.

  • Lizeth Ortega Cubillos
    journalist and digital communication specialist
Mexico, Canada, and India are seeking new trading partners in response to the impact of the tariff policies of U.S. President Donald Trump. It is worth noting that the United States is the largest export market for both Canada and Mexico.

Currently, while Mexico is seeking to reach an agreement with the United States, talks between Canada and the Trump administration recently failed. Likewise, India is facing new tariff threats stemming from a law that gives Donald Trump the authority to impose tariffs of up to 100% on countries that purchase oil and gas from Russia.

For this reason, starting Monday, October 5, several Indian and Canadian negotiators will hold new rounds of talks following recent deliberations. According to Bloomberg and other media outlets, Canadian Prime Minister Mark Carney said that his Indian counterpart, Narendra Modi, is likely to visit the country in December, and that a trade agreement could be signed at that time.

In March, when Mark Carney visited India, he described the Asian country as “the fastest-growing major economy and a powerhouse of global commerce and technology” and added that the relationship between Canada and India was aimed at developing cooperation in energy, talent, and AI.

For his part, in June, when both leaders met again during the G7 Summit in Alberta, Modi said: “It was a pleasure to meet Prime Minister Carney. (...) the meeting demonstrates our commitment to strong India-Canada relations.” These statements from both sides would demonstrate their interest in pursuing agreements in trade, among other areas.
On the other hand, India is finalizing the details of a framework with Mexico to begin formal negotiations related to trade issues. In 2025, President Claudia Sheinbaum said, after meeting with Modi in Canada, that Mexico sought to strengthen its relationship with India through joint investments, particularly in technology, medicines, agriculture, semiconductors, and critical minerals.

Official data from India's Ministry of Commerce shows that bilateral trade between India and Canada, and between India and Mexico, amounted to approximately US$8 billion with each of these countries in the 2025–2026 period.

Specifically in the case of Mexico, the aim would be to secure greater access to the Indian market for tequila, fruits, and automotive components, while New Delhi seeks to reduce tariff barriers on products such as automobiles, auto parts, and steel, among others.

India Is Not Standing Still

According to data from the Government of India, 2025 and 2026 have been marked by the reactivation and advancement of various trade processes with countries and regions around the world, including Canada, the United States, Chile, Peru, Israel, the Gulf countries, and the Southern African Customs Union (SACU).

In addition, talks with Australia continue toward a comprehensive trade agreement following the signing of an interim agreement in 2022. And, with New Zealand, a free trade agreement (FTA) will enter into force on October 20, according to recent announcements by both countries following the ratification of the agreement reached in April.

With regard to Latin America, this year a study by the Social Research Center (SRC) examined the prospects for trade between India and Latin America based on the views of 32 experts in trade, economics, and technology. The analysis identified opportunities for increased trade in sectors such as technology, renewable energy, healthcare, and agribusiness, among others.

However, it also found that connectivity and logistics costs remain some of the challenges to deepening trade between India and Latin America, due to the geographical distance between the two regions and the difficulties associated with transporting goods, factors that may limit the growth of trade flows.

Sources:

● Prime Minister Carney secures ambitious new partnership with India focused on energy, talent, and technology: https://www.pm.gc.ca/en/news/news-releases/2026/03/02/prime-minister-carney-secures-ambitious-new-partnership-india-focused
● En G7, conversan Presidenta Claudia Sheinbaum y primer ministro de India, Narendra Modi, sobre inversiones científicas y tecnológicas: https://www.gob.mx/presidencia/prensa/en-g7-conversan-presidenta-claudia-sheinbaum-y-primer-ministro-de-india-narendra-modi-sobre-inversiones-cientificas-y-tecnologicas
● India acelera negociaciones comerciales con México y Canadá ante aranceles de Trump. 23 de septiembre de 2026: https://www.bloomberglinea.com/latinoamerica/mexico/india-acelera-negociaciones-comerciales-con-mexico-y-canada-ante-aranceles-de-trump/
● Comercio India–LatAm, claves desde expertos. (SRC) Estudio sobre las perspectivas del comercio entre India y América Latina: https://americaretail-malls.com/paises/brasil/comercio-india-latam-claves-desde-expertos/
● India-New Zealand FTA to Enter into Force from 20 October 2026: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2313143&lang=1&reg=3&
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