Huge Potential Exists in India- Brazil Trade: Jyotiraditya Scindia

Published on September 4, 2010 by INVC   ·   1,313 Comments  Print This Post

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Jyotiraditya Scindia, Minister of State for Commerce and Industry, has called on the Brazilian Industry to take advantage of tremendous emerging business opportunities that are available in India. Inaugurating the CII India- Latin America and Caribbean Conclave (Brazil) in Sao Paulo yesterday, Shri Scindia hoped that both India and Brazil will strive to take their bilateral cooperation to greater heights. The Conclave was jointly organized by CII in partnership with the Brazil-India Chamber of Commerce and the Embassy of India in Brazil. The programme was held in the Federation of Industries of the State of Sao Paulo (FIESP) with a seminar and presentations in the morning session and B2B meetings in the afternoon session. He is leading a 12 member CII delegation to Brazil, Peru and Chile during 1-8 September 2010.

In a one-to-one meeting, Shri Scindia met Mr Miguel Jorge, Minister of Development, Industry and Foreign Trade of Brazil and the two sides expressed satisfaction at the growing bilateral relations marked by regular exchange of high level visits in the past few years. They discussed the possibilities of further strengthening the commercial relations and the prospects of further investments and joint ventures in key sectors of mutual interest such as in Oil and Gas, Agriculture, Infrastructure, Sugar, IT, automobiles and renewable energy. Shri Scindia mentioned to the Brazilian side about the Focus- Latin America and Caribbean (LAC) programme of the Ministry of Commerce, Government of India to incentivize and encourage Indian exporters to enhance trade and investment in the LAC region. Both sides expressed the hope to take India-Brazil bilateral relations to greater heights.

The Minister addressed the special session on India-Brazil: Unfolding Synergies in which he aptly captured the growing India- Brazil relations and the vast similarities and complementarities that exist in the two large democracies.

During his interaction with the leading Brazilian media at FIESP, Shri Scindia observed that huge trade potential exists between the countries that need to be tapped. He also interacted with some young entrepreneurs of Brazil whom he encouraged to further explore the possibilities of greater cultural and people to people contacts. The growth pattern of the two economies has proceeded on similar lines and they are both natural partners in the new world. He later met CEOs of top Brazilian companies that are already present or are keen to enter the Indian market as investors. He invited the Brazilian industrial community to visit India, especially during the India International Trade Fair to be held in New Delhi in November 2010 to showcase their achievements in frontier areas of technology.

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