INDMEX Welcomes New Leadership, Partners to Strengthen Trade Ties

The India-Mexico Trade and Commerce Council (INDMEX) has announced a leadership change and reinforced its commitment to deepening bilateral trade ties. Joining the council are Credlix, a trade financing platform, and Loop Consulting, expanding INDMEX’s reach.

Since its inception two and a half years ago with just eight founding members, INDMEX has rapidly grown to encompass 72 companies and 35 industry chambers. Outgoing president Jagdish Nainwal praised the council’s inclusive model and its role in facilitating buyer-seller connections, memoranda of understanding, and investment discussions across diverse sectors such as plastics, chemicals, technology, and consumer goods.

“INDMEX’s growth trajectory is unmatched,” said Nainwal. “Our strength lies in inclusivity, bringing together the entire business ecosystem.”

Newly appointed president Jyoti Ranjan Rout, alongside vice president Luis de Ovando Mantilla, outlined a vision beyond commerce: “Trade is more than exchanging goods — it is about building trust, driving innovation, and creating shared value.”

A standout moment at the event was the launch of Credlix in Mexico, which offers Mexican manufacturers and importers seamless access to India’s industrial supply chain through digital ordering, logistics, and trade financing solutions.

“Many products Mexico sources from China are available in India; the gap has been convenience,” said Pramit Joshi, Director, Credlix. “Our full-service platform delivers to factory doors, manages risk, and finances orders.”

This move aims to narrow the US$11 billion trade gap between India and Mexico, currently dwarfed by Mexico’s US$120 billion trade with China. Credlix focuses on sectors such as retail, automotive, plastics, chemicals, and industrial inputs to position India as a competitive alternative.

Indian Ambassador to Mexico Dr. Pankaj Sharma, along with Daniel Becker Feldman, CEO, Banco Mifel, emphasized the shift from diplomatic goodwill to concrete business outcomes. Becker Feldman highlighted Mexico’s untapped potential in digital finance, noting that over half of Mexican transactions remain cash-based, and praised India’s digital payments infrastructure as a model Banco Mifel already leverages.

“Digital transformation has propelled financial inclusion in India, offering a powerful blueprint for Mexico,” added Foncerrada.

Luis de Ovando Mantilla concluded, “Our mission is clear: to build bridges, create opportunities, and foster collaboration that drives growth for both our business communities.”