Brazil and India, key players in the global South and as members of BRICS, are strengthening their economic partnership through strategic talks between Brazil’s Labor Minister, Luiz Marinho, and India’s Ambassador, Suresh Reddy. The discussions focused on digital transformation, business engagement, and investment opportunities.
Minister Marinho expressed optimism about Brazil’s economic future in Brasília, highlighting the country’s efforts to attract international investors, especially amidst global energy transition discussions. Meanwhile, Ambassador Reddy mentioned the attractive opportunities for Indian investors, such as Tata Group’s expansions in São Paulo and Paraná.
Tata Group plans to make Brazil a central hub for its industries across Latin America, aiming to double its local workforce. Marinho proposed creating a working group with various Brazilian ministries, business leaders, and the Indian government to address logistical and regulatory challenges for Indian businesses in Brazil.
The 76th anniversary of diplomatic relations between Brazil and India marks their strong trading partnership, with trade reaching $15.2 billion in 2022, up 31.4% from the previous year. The expansion of the India-Mercosur Preferential Trade Agreement is set to further enhance trade in goods, services, and investments among Mercosur states.