Home / Knowledge / News / Textiles / 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

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pandemic causes trade decline, dips commodity prices: IMF

Current account surpluses and deficits narrowed modestly in 2019, and ...

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pak ministry working to get textile policy cleared by ECC

Pakistan's commerce ministry is busy trying to get the Textile Policy ...

Pic: Hermès International

Fashion | On 8th Aug 2020

Hermes Int H1 FY20: revenues €2,488 mn; net profit €335 mn

Hermes International SA, a French high fashion luxury goods...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Teresa Neal,

Teresa Neal

Teresa Neal, an art professional with 25 years of experience, in...

Fiorella Cattelan,

Fiorella Cattelan

With flexibility and versatility, Dettin strives to meet the specific...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave 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

Leave your Comments


July 2020

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


Advanced Search