Finance Minister Nirmala Sitharaman at India-Mexico Trade and Investment Summit
Finance Minister Nirmala Sitharaman participated in the India-Mexico Trade and Investment Summit titled ‘Enhancing Trade and Investment Collaboration’ in Mexico City. The summit was organized by the Trade & Commerce Council of India, in collaboration with the Confederation of Indian Industry (CII), the Embassy of India in Mexico, and the Department of Economic Affairs.
During her visit from October 17 to October 20, Sitharaman engaged with political and business leaders in Guadalajara and Mexico City. The summit was attended by notable figures such as Manola Zabolza Aldama, Minister of Economic Development for Mexico City, Laura Gonzalez from the State of Mexico, Ramachandran Dinesh, Immediate Past President of the CII, and Francisco Cervantes Diaz, President of Consejo Coordinador Empresarial.
In Jalisco, Sitharaman highlighted Guadalajara’s thriving IT ecosystem, noting the presence of major IT firms. She emphasized the potential for collaboration in cloud computing, AI, and FinTech, especially after meeting with Jalisco’s Governor-elect Pablo Lemus Navarro at Universidad Panamericana Guadalajara.
Sitharaman stated, “Guadalajara has a thriving IT ecosystem with the presence of major Indian and global IT firms while India is a leader in IT services and innovation, thus making India and Jalisco natural partners.” She also mentioned the importance of collaboration between academic and research institutions in tech-based vocational training programs.
Additionally, Sitharaman announced that the School of Medicine at the University of Guadalajara and the Ministry of AYUSH have agreed to establish an academic Chair of Ayurveda at the university, promoting joint research and teaching in Ayurveda.
Pablo Lemus Navarro expressed that the meeting reinforced their commitment to act as a bridge between cultures, promoting economic and social progress. Both sides reaffirmed their mutual interest in strengthening ties and exploring cooperation in manufacturing, technology, academia, exports, and the automotive sector.
Doubts Revealed
Finance Minister -: The Finance Minister is a government official in charge of the country’s financial matters, like money, taxes, and economic policies. In India, Nirmala Sitharaman is the current Finance Minister.
India-Mexico Trade and Investment Summit -: This is a meeting where people from India and Mexico come together to talk about how they can work together in business and trade. They discuss ways to invest in each other’s countries to help both economies grow.
Mexico City -: Mexico City is the capital of Mexico, a country in North America. It’s a big city where important meetings and events often take place.
Guadalajara -: Guadalajara is a city in Mexico known for its technology and cultural events. It’s an important place for business and education in Mexico.
IT -: IT stands for Information Technology. It involves using computers and software to manage information. It’s a big part of modern businesses and industries.
Cloud Computing -: Cloud computing is a way to store and access data and programs over the internet instead of on your computer’s hard drive. It allows people to use software and storage from anywhere.
AI -: AI stands for Artificial Intelligence. It’s when computers are programmed to think and learn like humans. AI is used in many things, like voice assistants and self-driving cars.
FinTech -: FinTech means Financial Technology. It’s the use of technology to improve financial services, like online banking and mobile payment apps.
Academic Chair -: An academic chair is a special position at a university for a professor who is an expert in a particular subject. The new Chair of Ayurveda will focus on teaching and researching Ayurveda, a traditional Indian system of medicine.
Ayurveda -: Ayurveda is an ancient Indian system of medicine that uses natural remedies and lifestyle changes to promote health and balance in the body.