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Last updated: 25 Jan, 2020  

Kovind.9.thmb.jpg India, Brazil economic relations progressing: Kovind

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SME Times News Bureau | 25 Jan, 2020

President of India Ram Nath Kovind on Saturday said that India’s strategic and commercial relations with Brazil are progressing.

Receiving Brazilian President Jair Bolsonaro at Rashtrapati Bhavan, Kovind said that India and Brazil are close friends and Strategic Partners. India attaches the highest importance to its ties with Brazil, both in the bilateral and multilateral arenas.

He added that India-Brazil economic relations are progressing well. But we can do a lot more together.  

There is huge untapped potential both on the trade and investment sides. Indian companies are active in Brazil in IT, automobiles and energy sectors.  We are keen to leverage defence and food processing expertise of Brazil to boost our Make in India initiatives, Kovind said.

We invite Brazilian companies to partner us in our economic programmes. Sectors such as renewable energy, biotechnology and animal husbandry also present huge opportunities for our companies, he added.  

Welcoming the Brazilian President on his first state visit to India, the President said that it is a singular honour to have him as the Chief Guest for our Republic Day celebrations. It is indeed a special occasion for India-Brazil relations.

In his banquet speech, President Kovind said that on the strong historical foundation, India and Brazil have established a multi-faceted partnership, one that would inspire many. Our shared perspectives have brought us together as Strategic Partners.

We are committed to build an international order that is reflective of new global realities; we are committed to strengthen multilateralism for global peace and stability; and we are committed to fight terrorism for a secure and safe world for our peoples.

From BRICS to bilateral platforms, we have a forward looking agenda. Even as we address the inequities of the past, we must craft a sustainable world for our future generations, he said.

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