Trade Relations with Brazil

Press Information Bureau

Government of India

Ministry of Commerce & Industry

17-December-2012 16:42 IST

An Indian delegation led by the Hon’ble Minister of Commerce, Industry and Textiles (CITM), Shri Anand Sharma had visited Brazil during 11 – 14 June, 2012. During the visit of the delegation, bilateral ministerial dialogue took place in Brasilia with the counterpart delegation led by Mr. Fernando Pimentel, Brazilian Minister of Development, Industry and Foreign Trade. The delegation was also accompanied by the Indian Co-Chair, Mr. K.V.Kamath of India-Brazil CEOs Forum, who had a meeting with the designated Brazilian Co-Chair in Sao Paulo. The Indian delegation was also accompanied by a pharma delegation coordinated by the Pharmexil, which had a B2B meeting in Sao Paulo. During the Ministerial dialogue, some of the areas of cooperation were further strengthened by agreeing to establish Working Groups in sectors of importance for the two sides.

India has plans for investment of US Dollars 1 (one) trillion in creation and up gradation of infrastructure, such as, roads, power, ports, airports, etc., during the five years period 2012-2017. During the visit, Brazilian companies were invited to invest in India’s infrastructure programme, Special Economic Zones, etc. India has also invited Brazilian investors to invest in recently launched National Manufacturing Investment Zones (NMIZ) under the National Manufacturing Policy. India and Brazil have also agreed to set up a Working Group on Infrastructure for closer interaction on the subject.

The bilateral agreement on Science and Technology was signed in 2006. A programme of Cooperation (POC) between the Department of Science and Technology of the Republic of India and the Ministry of Science, Technology and Innovation of Republic of Brazil on co-operation in Science & Technology (2012-2014) was signed in New Delhi on March 30, 2012. Also, during the visit of the Indian delegation to Brazil, a Memorandum of Understanding (MoU) between the Council of Scientific and Industrial Research (CSIR) through National Physical Laboratory (NPL), India and the National Institute of Metrology (INMETRO), Brazil was signed for scientific and technological co-operation to provide a framework for the exchange of scientific and technological knowledge services and the enhancement of scientific and technical capabilities of the two sides in the areas of chemistry, physics and engineering measurement sciences.

This information was given by the Minister of State for Commerce & Industry Dr. D. Purandeswari in written reply to a question in Lok Sabha today.

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DS/RK