India and Brazil reinforce economic and trade relations
India and Brazil today reinforced the economic and trade relations and exuded that the target of bilateral trade for $10 billion is achievable. This was the highlight of the Brazilian Industry’s interaction with the captains of the Indian Industry organized by the Confederation of Indian Industry (CII) in Bangalore. Underlining the potential of Brazil as an investment destination, Mr. Armando Monteiro Neto, President, National Confederation of Industry (CNI), Brazil said that Infrastructure, Biofuel, Food Processing, IT and pharmaceuticals will drive the trade and economic relations between the two countries. The National Confederation of Industry (CNI) which is the apex industry body in Brazil with a membership of 2300 companies have played an important role in promoting economic reforms in Brazil and represented Brazil in international trade negotiations.
While asking the Indian Industry to invest in Brazil, Mr. Neto said that with a GDP Growth rate of 4.2% and with an inflation rate of 3 %, Brazil provides the Ideal investment destination for Indian Companies. In his opening remarks, Mr. N Reguraj, Chairman, CII Karnataka in his opening remarks said that a lot of complementaries exist between India and Brazil and similar Socio-Political –Economic background makes the two countries Natural Partners.
During the interaction BEML, the Indian Public sector enterprise said that they have signed an MOU to set up a manufacturing unit in Brazil to tap the Latin American Market and also Tata Motors, India's largest automobile company, and Marcopolo, the Brazil-based global leader in body-building for buses and coaches have entered into an understanding to set up a company in Karnataka to manufacture and assemble fully-built buses and coaches.
Non Conventional Energy, Aerospace collaboration, Biotech and Nanotech and Space Technologies are the other sectors which offer vast opportunities for Joint collaboration between India and Brazil, said CII.
India and Brazil today reinforced the economic and trade relations and exuded that the target of bilateral trade for $10 billion is achievable. This was the highlight of the Brazilian Industry’s interaction with the captains of the Indian Industry organized by the Confederation of Indian Industry (CII) in Bangalore. Underlining the potential of Brazil as an investment destination, Mr. Armando Monteiro Neto, President, National Confederation of Industry (CNI), Brazil said that Infrastructure, Biofuel, Food Processing, IT and pharmaceuticals will drive the trade and economic relations between the two countries. The National Confederation of Industry (CNI) which is the apex industry body in Brazil with a membership of 2300 companies have played an important role in promoting economic reforms in Brazil and represented Brazil in international trade negotiations.
While asking the Indian Industry to invest in Brazil, Mr. Neto said that with a GDP Growth rate of 4.2% and with an inflation rate of 3 %, Brazil provides the Ideal investment destination for Indian Companies. In his opening remarks, Mr. N Reguraj, Chairman, CII Karnataka in his opening remarks said that a lot of complementaries exist between India and Brazil and similar Socio-Political –Economic background makes the two countries Natural Partners.
During the interaction BEML, the Indian Public sector enterprise said that they have signed an MOU to set up a manufacturing unit in Brazil to tap the Latin American Market and also Tata Motors, India's largest automobile company, and Marcopolo, the Brazil-based global leader in body-building for buses and coaches have entered into an understanding to set up a company in Karnataka to manufacture and assemble fully-built buses and coaches.
Non Conventional Energy, Aerospace collaboration, Biotech and Nanotech and Space Technologies are the other sectors which offer vast opportunities for Joint collaboration between India and Brazil, said CII.
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