Source India pavilion inaugurated at Expo Cihac, Mexico
October 18, 2018:
India’s apex trade and business promotion organization Trade Promotion Council of India (TPCI) has inaugurated the Source India pavilion at the 30th edition of the famous ongoing Expo Cihac exhibition in Mexico City wherein 45 Indian companies from construction industry are showcasing their products to the buyers from Latin American countries. The inauguration was done by Mr. Muktesh K. Pardeshi, Ambassador of India to Mexico in company of Ashwani Kumar, Representative economic and commercial Embassy of India, Suresh Kumar Makhijani, Jt. DG, TPCI and Faraz Khan Executive Director, TPCI. Expo Cihac is the leading trade show for Latin America’s construction industry.
Muktesh Pardeshi elaborated on the growth in India-Mexico ties when he said: “Bilateral trade between India and Mexico is continuously on the rise. Recent years have seen sharp spurt in bilateral trade and investment. India-Mexico bilateral trade has grown to US$ 8.37 bn in 2017 (CY), an unprecedented 33% increase against 2016. India’s overall export to Mexico has increased by 17.09% in 2018 compared to the previous year. All commodity exports in 2018 stood at 1,687.993 million dollars compared to 1,441.629 million dollars the previous year and 1,410.901 million dollars in 2016. Chief commodities include Vehicles (except Railway or Tramway) and parts, etc. that fetched 631.479 million dollars. This was followed by export of organic chemicals amounting to 154.650 million dollars, Nuclear Reactors and its parts amounting to 162.846 million dollars and electric, sound and TV equipments which brought in 116.295 million dollars for the country. The trade balance is in favour of India (1.67bn) at the moment.”
Speaking at the time of inauguration, Suresh Kumar Makhijani, Jt. DG TPCI said: “The construction industry is a major contributor towards India’s GDP, both directly and indirectly. The sector is a major to India’s overall development and enjoys intensive focus from the Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country. It employs 33 million people, and any improvements in the construction sector affect a number of associated industries such as cement, steel, technology, skill-enhancement, etc. TPCI’s efforts to promote export of products and services related to construction industry will not only boost the industry but will go a long way in furthering India’s GDP and foreign exchange reserve.”
The companies participating in the exhibition are displaying a wide range of products such as ceramic tiles, HD printed tiles, vitrified tiles, vitreous China, stoneware and terracotta tableware and construction equipment.
More than 500 exhibitors across the world will participate in this exhibition with their best products, technologies and innovations related to the industry.
Tells Suresh Kumar Makhijani, Jt. DG TPCI, “Source India pavilion is offering a tremendous platform to the Indian exhibitors to interact with the stakeholders and create a visible impact in the global construction industry. It has given a significant opportunity to Indian companies participating in Source India pavilion to capture the Mexican construction market. Huge enthusiasm is being witnessed among the local buyers towards products and services being offered by the Indian exhibitors.”
Private investment has significantly increased its share of total investment in the construction industry in Mexico from 49% in 1993 to 75% in 2015. The factors contributing to this include a systematic decrease in public investment and increased participation in private investment (domestic and foreign investors) from industries such as automotive, energy, infrastructure and telecommunications.