India has not made any large investment in the region in 2017, although Mexico has attracted a series of investment by medium and small Indian companies in recent years. Motherson Group has 15 autoparts plants in Mexico employing 22000 Mexicans. JK Tyres has 3 plants.The latest investment is by Parle in biscuit manufacturing in Mexico.
In 2017, there was one significant Latin American investment in India. Grupo Bimbo of Mexico (the largest bread maker in the world) has acquired two Indian firms Harvest Gold and Ready Roti to make bread and rotis in India.
In 2018, Sterlite has won in auctions six Brazilian power transmission line projects, for which the company has committed 1.7 billion dollars of investment. Sterlite is bullish and is confident of winning more auctions in the future and has announced intention to invest 4 billion dollars in Brazil in the next four years. This is the largest ever project contract done by an Indian company in Latin America. The company is also exploring opportunities in Argentina, Chile and Mexico.
The CEO of Sterlite says, “We went to Brazil because the regulatory framework and the demand-supply scenario there are similar to what we have in India. What he did not say is “Thoothukudi’s (Tuticorin) loss is Sao Paulo’s gain…”
