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India-Brazil: Boosting Strategic Partnership

He will be accompanied by seven Ministers, Chairman of Brazil-India Friendship Group in the Brazilian Parliament, senior officials and a large business delegation. President Bolsonaro will conclude the visit on 27th January.

This is the third time India has received President of Brazil as Chief Guest for the Republic Day Parade. The previous instances were in 1996 and 2004 respectively. This is President Bolsonaro’s first State visit to India after becoming President of Brazil on 1st January 2020. President Bolsonaro and Prime Minister Modi had met each other on two previous occasions last year, namely, on the sidelines of the G-20 Summit at Osaka in June and the BRICS Summit at Brasilia in November.

On 25th January, President Bolsonaro will be given a ceremonial welcome at Rashtrapati Bhawan. He will then proceed to visit the Raj Ghat. Thereafter, President Bolsonaro will hold official talks with Prime Minister Modi. There will be an exchange of agreements followed by press statements by the two leaders. Later, Vice President Venkiah Naidu and the External Affairs Minister S Jaishankar will call on the Brazilian President. 

President Bolsonaro will also hold a meeting with President Ram Nath Kovind who will hold a Banquet in his honour. On 27th January, President Bolsonaro will address Indian and Brazilian Business leaders at the India-Brazil Business Forum. He will then proceed to Agra and thereafter depart from India.

“The visit of President Bolsonaro is extremely important. It will be an opportunity to re-energize our strategic partnership and take it forward in a very focused manner. We have a very strong forward-looking agenda to build stronger ties with Brazil” said MEA Secretary (East) Smt. Vijay Thakur Singh yesterday.

India and Brazil are in Strategic Partnership since 2006 and the relations are growing stronger every year. The bilateral relations are based on a common global vision, shared democratic values, and a commitment to foster the economic growth of both countries. Both countries also coordinate with each other at plurilateral fora such as BRICS, G-20, IBSA and multilateral bodies particularly the United Nations.

“As two developing countries, India and Brazil have similar developmental and global aspirations. This has led to a convergence of mutual interests in many areas” said MEA Secretary(East). “India and Brazil share a close and multifaceted relationship. They extend from political, defence, economic, security to agriculture, space, health, and food-processing. “

Bilateral trade between India and Brazil increased to USD 8.2 billion in 2018-19. This included USD 3.8 billion as Indian exports to Brazil and USD 4.4 million as imports by India. Major Indian exports to Brazil include agrochemicals, synthetic yarns, auto components and parts, pharmaceuticals and petroleum products. Brazilian exports to India include crude oil, gold, vegetable oil, sugar, and bulk mineral and ores.

India invested around USD 6 billion in Brazil in 2018. Indian investments were mainly in Brazil’s IT, pharmaceutical, energy, agri-business, mining, and engineering sectors. Brazilian investments in India were around USD 1 billion in 2018 with investments in automobiles, IT, mining, energy and biofuels sectors. However, both India and Brazil believe that there is more potential to increase economic engagements with each other.

During his address in the BRICS Business Forum in Brasilia in November, Prime Minister Modi had thanked President Bolsonaro for giving Indians visa-free entry in Brazil.

This visit by President Bolsonaro to India will herald a new decade of strong India-Brazil relations. The complementarities and synergies between the two democracies have tremendous potential to reach new heights in the coming years.
 

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