The government of the Mexican state of Jalisco has called for bolstering trade relations with India, saying both countries are ideally positioned to explore the opportunities offered by the global technology services industry.
Mexico should ‘seize the opportunity’ presented by India, particularly in the technology industry, suggested Jaime Reyes Robles, Secretary for the Ministry of Science & Technology in Jalisco, in the recent India-LAC Conclave held in Guadalajara.
There is little doubt that Robles’ suggestion goes down well with Indian technology professionals working in Mexico. Reports say nearly 2,500 Indians are working in Mexico, a large majority of them for TCS in cities including Guadalajara and Queretaro.
There are a dozen Indian IT firms operating in Mexico, including Infosys, iGates, HCL, Wipro, and Hexaware.
As the nearshoring concept takes hold and the acquisition of a US visa becomes ever more difficult, more and more Indian technology companies are considering expansion within Mexico, say industry analysts in the Indian Silicon Valley, Bangalore.
At the conclave, officials from Ministry of Finance said that Indian technology and BPO firms have created more than 4,000 jobs in Jalisco. TCS, for example, has employed more than 3,000 people across three delivery centers in Guadalajara and Queretaro and Mexico City.
Wages in Jalisco are 10-15% higher than in India, but other considerations such as the time and cost of travel to India make up for the loss, say analysts.
When Prime Minister Narendra Modi visited Mexico earlier in June this year, cooperation on science and technology was at the top of his agenda. A month after his visit, both the countries approved 14 joint projects in wide-ranging sectors, including seismology, solar energy, and biotechnology.