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Brazil looks to strengthen trade ties with India
05/12/2011
Brazil has announced aims to increase the number of products traded between itself and India, in a bid to maintain and enhance its strong links with fellow BRICS nations.
Latin America’s largest economy and India are looking to increase their bilateral trade, which amounted to US$7.7 billion in 2010, but so far in 2011 has already reached $8.1 billion.
The Consul General of Brazil in India, Josal Luiz Pellegrino, said that the rapid rate of growth in trade between the two countries was a sign of the economic strength of both of them, and that it should be developed even further. He was speaking at a meeting of the All India Association of Industries (AIAI) and the World Trade Centre (WTC), held in Mumbai last week.
He explained that both countries provided commodities that were crucial for each other and that relationship only looked set to grow even stronger.
Brazilian companies have largely invested in the vehicle, information technology, mining, energy and bio-fuels sectors of the Indian economy. In exchange, India has invested significantly in Brazilian information technology, pharmaceuticals, agribusiness, mining and the engineering sectors.
The BRICS are the emerging economies of the world that have not been as adversely hit by the global economic crisis as the developed nations of Europe and the USA. Besides Brazil and India, they include Russia, China and South Africa.
Latin America’s largest economy and India are looking to increase their bilateral trade, which amounted to US$7.7 billion in 2010, but so far in 2011 has already reached $8.1 billion.
The Consul General of Brazil in India, Josal Luiz Pellegrino, said that the rapid rate of growth in trade between the two countries was a sign of the economic strength of both of them, and that it should be developed even further. He was speaking at a meeting of the All India Association of Industries (AIAI) and the World Trade Centre (WTC), held in Mumbai last week.
He explained that both countries provided commodities that were crucial for each other and that relationship only looked set to grow even stronger.
Brazilian companies have largely invested in the vehicle, information technology, mining, energy and bio-fuels sectors of the Indian economy. In exchange, India has invested significantly in Brazilian information technology, pharmaceuticals, agribusiness, mining and the engineering sectors.
The BRICS are the emerging economies of the world that have not been as adversely hit by the global economic crisis as the developed nations of Europe and the USA. Besides Brazil and India, they include Russia, China and South Africa.
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