Home / Knowledge / News / India & Brazil aim for $10 bn trade by 2010
India & Brazil aim for $10 bn trade by 2010
27
Mar '08
Shri Kamal Nath, Union Minister of Commerce and Industry, during his bilateral meeting with Mr. Miguel Jorge, Brazilian Minister for Development Industry and Foreign Trade, has stated that India realizes the importance of Latin America and Caribbean and Indian Government has initiated a special programme, FOCUS LAC, to encourage trade relations between India and Latin America and Caribbean.

The Minister further stated that, “Brazil being the largest trading partner in Latin America has special importance for India. Over the years, Brazil has emerged as our biggest partner in the LAC region with our bilateral trade crossing 3 billion marks in 2007.

Bilateral trade has jumped to US$ 3.12 billion in 2007 from merely US$ 488 million in 2000. However, I feel that considering the huge opportunities of mutual interests, the volume of trade is still low and it could be enhanced manifolds by efforts of governments and trade bodies of our two countries.

In the recent India-Brazil Joint Commission Meeting in April 2007, both the governments have set a target of US$ 10 billion by 2010 and we are working towards achieving this target.” Senior officials from both the sides were also present on the occasion.

As regards investments, Shri Kamal Nath informed that, “Our mutual investments have also increased in recent years, particularly in the field of information technology, biotechnology and pharmaceuticals.

The Indian pharmaceutical companies have made a success story of their entry in Brazil. Almost all the major pharma players of India have established their presence in Brazil with supply of bulk drugs, finished formulations and establishment of manufacturing units and joint ventures.

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X