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Trade in focus ahead of Brazil President Jair Bolsonaro’s visit
Brazilian President Jair Bolsonaro will arrive in India on January 24 for a four-day visit, during which he will be the chief guest at the annual Republic Day parade and hold talks with the Indian leadership on bolstering trade and investment.
Bolsonaro, who is visiting at the invitation of Prime Minister Narendra Modi, will be accompanied by seven ministers, the chairman of the Brazil-India Friendship Group in Brazil’s Parliament, senior officials and a delegation of more than 80 businessmen.
An invitation to a world leader to be chief guest at the Republic Day parade is an honour reserved for India’s closest allies and friends. In recent years, the honour has been accorded to former US President Barack Obama, leaders of the 10 Asean nations and South African President Cyril Ramaphosa.
India and Brazil will sign more than 15 agreements and launch an action plan for their strategic partnership during the visit, Brazil’s ambassador André Aranha Corrêa do Lago said on Tuesday.
“We are going to [sign] more than 15 agreements with the government and institutions. We are also going to launch a plan of action for our strategic partnership. We want to make our strategic partnership more dynamic,” Lago was quoted as saying by ANI news agency.
The visit will also focus on strengthening cooperation in energy, agriculture and defence, he added.
The last presidential visit from Brazil was made by Michel Temer in October 2016 on the sidelines of the Brics Summit in Goa. Modi visited Brasilia for the Brics Summit in November, 2019.
This is Bolsonaro’s first state visit to India. Former presidents of Brazil have been the chief guest at the Republic Day parades in 1996 and 2004.
On January 25, Bolsonaro will meet his Indian counterpart Ram Nath Kovind, who will host a banquet in his honour, and he will hold talks with Modi. Vice president M Venkaiah Naidu and external affairs minister S Jaishankar will also meet Bolsonaro.
On January 27, Bolsonaro will address business leaders at the India-Brazil Business Forum.
The external affairs ministry said India and Brazil share a “close and multifaceted relationship” based on a common global vision, shared democratic values and a commitment to fostering economic growth of both countries.
Bilateral ties were elevated to a strategic partnership in 2006, and the two countries work closely at forums such as Brics, IBSA and G20 and in multilateral bodies, particularly the UN.
Trade between India and Brazil during 2018-19 was worth $8.2 billion, including Indian exports of $3.8 billion and imports of $4.4 million. Major Indian exports to Brazil include agro-chemicals, 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.
Indian investments in Brazil were around $6 billion and Brazilian investments in India were estimated at $1 billion in 2018. Brazilian investments are mainly in automobiles, IT, mining, energy and bio-fuels. India has invested in Brazil’s IT, pharmaceutical, energy, agri-business, mining and engineering sectors.
