India has broad industrial strengths, says Rahul Garg, Fundor and CEO of Moglix. Its manufacturing base is deep in sectors such as automotive, steel, textiles, clothing, machinery, electrical products, chemicals, metal components and processed foods.
It also has a solid information technologies industry and a growing capacity in strategic areas such as sovereign digital data centers and solutions. These advantages are combined with Mexico’s geographical proximity to the United States and its preferential access to the market through the T-MEC, which opens opportunities for productive integration.
The program also promotes a flow of Mexican exports to the United States. Credlix, Moglix’s financial arm, has already granted more than 20 million dollars in credits to Mexican companies that sell in that market. The goal is to reach 100 million in the next two years.
“Credlix, our financial entity for the supply chain, finances exporters who send products from India to the whole world. The United States is a key trade partner. We know that many of our US clients also buy in Mexico, so they want us to finance Mexican suppliers who sell to that market, since they use our services for India operations to the United States.”
The platform grants up to 90% of the value of an invoice in less than 48 hours and does not require guarantees. This allows companies to obtain immediate liquidity to operate without depending on traditional bank loans. In addition, they access lower rates, with an average savings of three percentage points compared to local conditions.
Garg explains that financing eliminates three key obstacles from foreign trade for SMEs. Accelerates the obtaining of liquidity, covers unpaid risks through international insurance and allows to evaluate the real solvency of the buyers. In this way, Mexican companies can focus on producing and exporting without financial pressures.
In addition to reducing costs and delivery times, the platform speeds up the search for reliable suppliers, a process that could before take months and now resolved in weeks. Moglix acts as a commercial and technological bridge.
Garg identifies the lack of direct flights and the language barrier as the main obstacles to expand bilateral trade. Even so, he hopes that the relationship will be strengthened with more business interaction and with the support of authorities and cameras of both countries.
In November, Moglix and Credlix will carry out an meeting with 35 Indian companies in Mexico, in collaboration with the Indian Embassy. The objective is that more Mexican companies know firsthand opportunities for supply and export.
Garg summarizes his vision with optimism, because he believes that India and Mexico have natural advantages that can turn them into strategic allies at a stage marked by protectionism and reconfiguration of global chains. For Moglix, the immediate challenge is to consolidate its presence in Mexico, generate trust and attract more SMEs to its platform.
