Brazil and India have many things in common – from enormous economies to vibrant cultures. The two are also members of the BRICS trade bloc and are working towards improving bilateral ties. In an interaction with The Dollar Business, H. E. Tovar Da Silva Nunes, the Brazilian Ambassador to India, discusses at length the past and present state of relationship, and the roadmap for the future to fortify bilateral ties.
TDB: Do you see any similarities between Brazil and India?
H. E. Tovar Da Silva Nunes (TSN): India and Brazil are developing countries of great territorial and demographic dimensions, with vibrant ethnic, cultural and religious diversity. Today, both countries are placed amongst the 10 largest economies in the world and both share similarities that point to the necessity of a strategic partnership.
India and Brazil are co-founders and members of many extra-regional diplomatic groupings such as G-4, IBSA and BRICS, and there is a considerable convergence in their geo-political policy frameworks. The countries also face similar challenges as both suffer from a degree of social inequality that today necessitates productivity to be increased while generating new jobs at the same time. In that regard, I believe, mutual collaborations in areas such as science and technology as well as agricultural research can benefit the two nations.
TDB: Would you agree that diversifying our trade basket can result in a win win proposition for both countries?
TSN: I agree that India and Brazil need to diversify their bilateral trade basket. And, in the recent times, both nations have proactively worked in this direction. During the last Presidential meeting in 2016, the two sides reached a common understanding on this.
Given the recent trends in global trade flows, going forward, I strongly believe both India and Brazil have much to gain by enhancing and diversifying their current trade basket. Brazil has enormous experience in agribusiness and the energy sector, and we feel, that it is important to further our economic interaction with India along these lines. I believe that Indian businessmen are already aware of this and have been exploring opportunities in Brazil. We also have expertise in defence and banking software development among others.
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