Brazil-India trade volume up 29 pc in 2007

The trade between Brazil and India has increased by 29.4 per cent and has reached to $3.12 billion in 2007.

The trade between Brazil and India totalled $3.12 billion in 2007, up 29.4 per cent year-on-year, according to the ministry of development, industry and foreign trade in Brasilia.

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According to figures released by the ministry on Monday, Brazil's exports to India rose merely two per cent to $957.9 million last year while its imports surged by 46.9 per cent to $2.16 billion, creating a 1.2-billion-dollar deficit, a staggering increase of 126 per cent year-on-year.

The ministry said Brazil's products with an advantage in the Indian market include oil and chemical products, cell phones, copper and beef, among others, while Brazil's imports of fuel oil, jewellery, rice and auto parts from India are likely to increase.