The actual value of electrical equipment exports from India to Mexico stood at USD 178.0 million in 2023. The year-on-year growth rate for 2022 to 2023 was 5.03%, while the CAGR for the last five years was recorded at 3.52%. Starting from 2013, there was an observable upward trend, with fluctuations over the different years, notably high growth in 2017 and 2018 and subsequent decline in 2020 followed by recovery. Forecast indicates a steady growth rate with a projected CAGR of 3.5% over the next five years, potentially reaching USD 222.56 million by 2028.
Future trends to watch for include the impact of global economic conditions on trade policies, advancements in electrical equipment technology, and any shifts in bilateral trade agreements between India and Mexico. Additionally, closely monitoring sustainability initiatives and eco-friendly product advancements will be critical, as they may open new markets and drive trade flow direction.
