Brazil invites Indian cos to invest in the country

The Dollar Business Bureau

Brazil has invited private companies from India to invest in the country in the sectors of civil aviation, ports, energy, oil and gas and sanitation.

“Private companies will have the opportunity to invest in Brazil in the sectors such as ports, civil aviation, energy, sanitation, oil and gas,” said Brazilian Ambassador to India Tovara Da Silva Nunes.

Agriculture, defence, aeronautics and robust banking system are the main strengths of the Brazilian economy, he added.

The ambassador was speaking on economic strengths and opportunities for investment in Brazil at the first country seminar organised by APEX Brazil, at the three-day BRICS Trade Fair, which is being held in New Delhi from October 12-14, 2016.

Talking about Brazil, he said that agriculture is the pillar of the economy of the country. Over the past 15 years, there has been a considerable rise in the intensity of trade flows. Several studies show that there is a massive rise in trade flows to Brazil.

“The key focus sectors are aerospace, aeronautics, medical equipment and medicines, oil and natural gas, fertilizers chemicals and processed food. Brazil is an attractive destination for private companies,” he added.

The Ambassador stated that India and Brazil share many similarities and common interests. While both countries have been a part of various multilateral forums, it is vital to closely work bilaterally to make the relationship truly strategic.

Both countries enjoy various common aspirations. The two sides have robust services sector-IT, strength in medicines, the foreign policy of the two is focused on sustainable development, discuss world issues and peaceful solution to conflict and have similar challenges to face and consider that social inclusion is not happen without a good economy, he said.

Brazil is one of India’s major trade partners in Latin America. India has investments of more than $5 billion in Brazil.