Mexico has sought investments from Indian software firms in its proposed knowledge cities and IT clusters, while pitching for joint ventures and business alliances between companies of the two countries. "The Indian IT industry should invest in Mexico to capture its expanding market and align itself in the US Hispanic IT market and Latin America," Mr Alejandro Gonzales, Mexico's Vice Minister for SMEs, said at a meeting organised by Electronics and Compu ter Software Export Promotion Council (ESC) here.

Indian IT firms, especially small and medium enterprises, could take advantage of the focus given in Mexico to promote computer software industry, he said, adding his country was implementing some key projects such as IT clusters and knowledge cities in which Indian assistance would be required. Mexico is keen to have commercial alliances, technical academic exchanges, business partnerships and joint ventures with Indian companies, he was quoted in an ESC release.

As part of measures to enhance bilateral ties, ESC and Mexican Chamber for IT, Electronics and Telecommunications signed a MoU for providing an arrangement to promote co-operation in electronics, software and telecom sectors. The MoU would provide for exchange of information and delegations, which would facilitate investment in both the countries, the release said.

Mexican IT industry's exports are growing at a rate of about 10 per cent and the sector received an investment of about $750 million, which generated a direct employment of six lakh people in over 2,100 companies, he added