Home / Knowledge / News / Textiles / India to forge stronger trade & economic ties with Brazil
India to forge stronger trade & economic ties with Brazil
Mar '11
Shri Anand Sharma, Union Minister of Commerce & Industry in his meeting with Mr. Antonio Patriota, Minister of External Relations, Brazil, said that India is desirous to forge stronger trade and economic ties with Brazil.

He further added that economic complementarities between the two countries would cement the trade and economic relations further and help in the inclusive growth of both the countries. Both sides agreed for setting up of CEOs Forum and identified the priority sectors viz., energy, oil, tourism, pharma, value-added manufacturing, mining, agro-processing etc. Shri Sharma expressed satisfaction as regards signing of Air Service Agreement between India and Brazil.

During the interaction, Shri Sharma expressed satisfaction on increasing bilateral trade to US $ 7.73 billion in 2010 between the two countries. He mentioned to the visiting Minister that both the countries could make sincere efforts to achieve the target of having bilateral trade of US $ 10 billion over the next few years. Shri Sharma also highlighted about the vast potential for cooperation between the two countries viz., SMEs, IT, science & technology, engineering, energy, infrastructure, nuclear power etc.

In the bilateral meeting, Shri Sharma raised the issue of imposition of anti-dumping duties on Indian products such as: PET Films (Polyethylene Terephthalate), Jute yarn, Jute Bags Nitrile Rubber (NBR) and stainless steel. He further informed that at present no antidumping duty has been imposed by India on import of any items from Brazil. During the discussions, he also raised the issue of flexibility in business visas.

Interacting with the Brazilian Minister, Shri Sharma mentioned that there is a proposal for organizing “India Show” in Sao Paulo in March, 2011. The proposed occasion will serve an ideal platform for a number of Indian and Latin American entrepreneurs / companies to explore and discuss business opportunities and tie- ups in trade and investment, he added.

India's main exports to Brazil are equipments related to wind energy, coke of coal, lignite, naphtha, cotton & polyester yarns, medicines & chemicals, vaccines for human medicines and aviation fuel. India's main imports from Brazil are crude oil, copper sulphates, soya oil, asbestos, valves, motor pumps, airplanes, wheat, precious & semi-precious stones, etc.

Total foreign direct investment (FDI) inflows received from Brazil during April 2000 to December 2010 is to the tune of US $ 4.55 million. Main sectors of investment from Brazil are plastic products, manufacture of leather products, allopathic pharmaceutical preparations, data processing, software development and computer consultancy services.

Press Information Bureau

Must ReadView All

Textiles | On 23rd Feb 2017

Incentives would spur jobs: New ASSOCHAM president

Further incentives for investment into manufacturing, IT,...

Information Technology | On 23rd Feb 2017

Lectra unveils supply chain programme for fashion industry

Lectra, the world leader in integrated technology solutions dedicated ...

Textiles | On 23rd Feb 2017

Gujarat govt announces Rs 1,000 cr package for MSMEs

In its state budget for 2017-18, the Gujarat government has announced ...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search