Finance Minister Nirmala Sitharaman lands in US after concluding Mexico visit

Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, arrived in the United States and received a warm welcome at Newark Liberty International Airport on Sunday (local time).

India’s Ambassador to the United States, Vinay Mohan Kwatra, and Consul General of India in New York, Binaya Srikanta Pradhan, welcomed Sitharaman, following her arrival from Mexico City.

“Union Minister of Finance and Corporate Affairs Smt. @nsitharaman is welcomed at the Newark Liberty International Airport by India’s Ambassador to USA, Shri @AmbVMKwatra along with Consul General of India in New York, Shri @binaysrikant76, after her arrival from Mexico City, today,” the Ministry of Finance stated in a post on X.

Notably, Sitharaman was in Mexico from October 17 to October 20, where she interacted with political and business leaders from various sectors in both Guadalajara and Mexico City.

Sitharaman had invited Mexican investors to explore opportunities in India’s Global In-House Capability Centers (GICCs), aircraft leasing, ship leasing, and even foreign university setups at GIFT-IFSC, which is emerging as a global hub for reinsurance and sustainable finance.

The Finance Minister had also participated in the India-Mexico Trade and Investment Summit, marking a significant step towards enhancing bilateral trade and investment ties between both countries, the Finance Ministry said in a post on social media X.

She urged the private sector leaders from both nations to drive forward this growing partnership, particularly in sectors like pharmaceuticals, MedTech, and digital innovation, to strengthen the economic ties between India and Mexico.

Finance Minister Sitharaman highlighted the potential for a multi-sectoral partnership between India and Mexico, emphasising India’s growing strength in manufacturing, pharmaceuticals, and automotive sectors. She recalled the elevation of India-Mexico relations from a ‘Privileged Partnership’ to a ‘Strategic Partnership’ during Prime Minister Narendra Modi’s 2016 visit to Mexico.

On the sidelines of the summit, a Memorandum of Understanding (MoU) was signed between CII and CCE, aimed at fostering greater business-to-business interactions and increasing Mexico’s sourcing of pharmaceuticals and medical devices from India.

The Summit was centered on boosting collaboration between the two nations in diverse sectors including IT, pharmaceuticals, healthcare, and automotive industries.

Organised by the Trade and Commerce Council of India, in collaboration with CII and the Indian Embassy in Mexico, the summit drew in over 250 business leaders and investors across various industries.