PM Modi and Brazilian Prez hold talks to boost bilateral ties
Team Udayavani, Jan 25, 2020, 1:20 PM IST
New Delhi: Prime Minister Narendra Modi and Brazilian President Jair Messias Bolsonaro on Saturday held wide-ranging talks with an aim to inject new momentum into strategic ties between India and Brazil.
In the talks, the two leaders focused on boosting bilateral ties in key areas of trade and investment, energy, defence and security, medicine and scientific research, officials said.
Earlier, External Affairs Minister S Jaishankar called on Bolsonaro and discussed ways to further broaden cooperation between the two countries.
After the meeting, Jaishankar, in a tweet, said Bolsonaro’s visit will open “new opportunities” for bilateral cooperation.
The Brazilian president was given a ceremonial welcome at the Rashtrapati Bhavan in presence of President Ram Nath Kovind and Modi.
Bolsonaro arrived here on Friday, accompanied by his daughter Laura Bolsonaro, daughter-in-law Leticia Firmo, eight ministers, four members of the Brazilian parliament and a large business delegation.
The Brazilian president is in India primarily to grace the Republic Day celebrations on Sunday as chief guest and explore ways to boost trade ties with India at a time when both the large economies are hit by slowdown.
India’s ties with Brazil, the largest country in Latin America, has been on an upswing in the last few years. The country has a population of 210 million with USD 1.8 trillion economy.
This is the first visit of President Bolsonaro to India.
Bolsonaro, a former army captain, won a landslide victory in Brazil’s presidential election in October 2018 and took the reins of the country in January last year.
India-Brazil ties have been on an upswing in the last few years.
The volume of bilateral trade was USD 8.2 billion in 2018-19. This included USD 3.8 billion worth of Indian exports to Brazil and USD 4.4 million as imports by India.
Both the governments feel there is huge potential to enhance the bilateral trade further.
Major Indian exports to Brazil include agro-chemicals, synthetic yarns, auto components and parts, pharmaceutical 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 USD 6 billion and Brazilian investments in India are estimated at USD 1 billion in 2018.
Brazilian investments in India are mainly in automobiles, IT, mining, energy and biofuel sectors. India has invested in Brazil’s IT, pharmaceutical, energy, agri-business, mining and engineering sectors.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Remarks on Allopathy: SC asks Ramdev to implead complainants in his plea for stay of criminal probes
Thane man loses Rs 38 lakh in share-trading scam, case registered
Women voters outnumber men in all 5 Assam LS seats where voting is underway
Lok Sabha elections 2024: Open ‘Mohabbat ki Dukaan’ in every corner by defeating hatred, Rahul tells voters
LS polls phase 1: Voting underway in 102 seats, leaders urge people to turn up in large numbers
MUST WATCH
Latest Additions
Remarks on Allopathy: SC asks Ramdev to implead complainants in his plea for stay of criminal probes
Thane man loses Rs 38 lakh in share-trading scam, case registered
Women voters outnumber men in all 5 Assam LS seats where voting is underway
Hubballi murder: Law and order in Karnataka heading towards Bihar, says Bommai
Udupi: Biker killed, pillion rider injured in fatal collision