FM Sitharaman Highlights FinTech Collaboration at India-Mexico Trade Summit

India’s rapid rise as a global leader in the digital economy, with an 87% adoption rate in the FinTech sector, opens doors for cross-border collaborations. Union Finance Minister Nirmala Sitharaman emphasized this during the India-Mexico Trade and Investment Summit in Mexico City. She highlighted how India’s initiatives like UPI offer fertile ground for innovation in FinTech and digital payments, setting the stage for a deeper India-Mexico partnership.

Sitharaman stressed that cooperation could span multiple sectors, broadening collaboration between the two nations. The summit, also attended by Mexico City’s Minister of Economic Development, Manola Zabolza Aldama, showcased growing interest in strengthening trade ties.

In a key development, the Finance Minister oversaw the signing of an MoU between the Confederation of Indian Industry and Consejo Coordinador Empresarial. This agreement aims to boost business ties between both countries.

Additionally, Sitharaman met with Mexico’s Secretary of Finance and Public Credit, Dr. Rogelio Ramirez de la O, where she expressed India’s readiness to share its digital transformation experiences. The meeting reinforced the potential for collaboration, especially in digital payments and technological innovation.

These discussions mark a promising step toward a stronger, multi-sectoral partnership between India and Mexico. By leveraging its FinTech prowess, India aims to foster deeper economic and technological ties with Mexico, further boosting global digital cooperation.