Mexico is tweaking its rules to enable foreign companies to hire high-skilled foreign workers. This, it is felt, would lure Indian firms to set up units in this country south of the United States.
Already 11 Indian IT companies including bellwether companies such as Infosys, Wipro and TCS have offices in Mexico, said Melba Pria, Mexican ambassador to India. This move comes on the heels of visa restrictions proposed by the US.
Pria was quoted by the Economic Times as telling it that a rule is followed by Mexico, which allows foreign companies to employ ten percent of their total high-skilled workers from abroad. But, the country is planning to change rules to allow foreign companies to hire a higher percentage of overseas talented workers in case many employees work in them.
Indian IT behemoths and other companies seeking to spread their tentacles in Mexico, apart from the US, South America and Latin America, would benefit from this move. She said that Mexico always opened its doors for foreign talent.
United Mexican States is also said to have created 30 IT clusters where 1,500 companies including foreign companies are housed. Pria expects the software industry in Mexico to grow by seven percent between 2015 and 2019.
Mexico is also home to the third highest number of IT workers in the world, next only to India and the Philippines. Both India and Mexico would stand to gain from it, she said. In addition to that, 2016 saw Mexico overtaking Brazil as India’s largest Latin American partner.
As Mexico enjoys special trade arrangements with 45 countries in both American continents, it gives Indian companies a great opening in that region. Apart from software, Mexico offers unique prospects for India’s premier pharmaceutical firms.
Several Indian companies in sectors such as pharmaceutical, IT and automotive have reportedly invested in operations in Mexico, owing to its large market, strategic location and investment friendly policies.
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