Aiming to strengthen economic ties between the countries of India and Brazil, the former country has invited the latter nation’s industries and companies to participate and become a part of its growing supply chain.
Sunil Barthwal, the Indian Commerce Secretary, discussed ways and methods to promote and encourage trade and exchange between the two countries. Barthwal was in Brazil from October 1 to 4 for the sixth meeting of the India-Brazil Trade Monitoring Mechanism (TMM). The Commerce Ministry stated that extensive deliberations and discussions in relation to bilateral trade and exchange were held by both sides in order to outline a plan or roadmap for further enhancement of the goal.
The Commerce Secretary, Sunil Barthwal, said that the Ministry “invited Brazilian industries to be part of the growing supply chain”.
The Commerce Secretary also conducted meetings with Brazilian companies and enterprises that have invested in India. New opportunities for trade and investment were also discussed in the meeting.
A delegation of 20 business leaders accompanies Barthwal to Brazil. The Commerce Ministry stated that the visit was happening against the backdrop of a sharp growth in bilateral trade, which has reached 16 billion US Dollars, doubling over the past two years.” It further added that the two sides explored and thought over novel opportunities for encouraging and promoting trade. The Ministry also said in a statement that the Indian delegation took part in numerous trade facilitation activities which were aimed at enhancing and nurturing the growing trade relationship between the nations of India and Brazil.
Reportedly, India is exploring new trade opportunities with organisations like the industries in Rio De Janeiro, Confederation of Industries of Brazil, the Commercial Association of Sao Paulo, the Federation of Industries of the State of Sao Paulo ( FIESP ). The aforementioned organisations are among the key Brazilian organisations.
Furthermore, Sunil Barthwal also reportedly interacted with representatives from the leading MICE (Meetings, Incentives, Conferences, and Exhibitions) companies and enterprises in Brazil. Additionally, Barthwal also co – chaired the meeting conducted with Secretary of Foreign Trade for the Federative Republic of Brazil Tatiana Lacerda Prazeres in Brasilia on October 4th.
