Friday, September 30, 2022

EAM Jaishankar: India to invest USD 1.6 billion in Brazil

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S. Jaishankar, External Affairs Minister, has emphasised the need of making Latin America a key economic hub for India by increasing interactions, connections, and meetings with stakeholders in the wide area.

Mr. Jaishankar is in Brazil, Paraguay, and Argentina on a six-day official visit. It is his first official trip to South America.

Mr. Jaishankar said during a meeting with notable businesses in Sao Paulo on Tuesday that India and Brazil are not only partners but can exchange best practises for mutual prosperity and advancement.

“Visited the Federation of Industries of the State of Sao Paulo, Brazil’s largest industry body. WEG, @embraer, and UNICA presentations highlighted the tremendous prospects for further commercial collaboration “He tweeted about it.

“India and Brazil are more than just partners; they can exchange best practises for mutual growth and success,” he said.

“Our total commerce with Latin America was somewhat less than $50 billion last year. I believe that if there is a better emphasis, more push, engagements, relationships, and more meetings like today, we can make Latin America a very important economic hub for India “He stated this at the FIESP.

“Whether it’s electricity transmission, information technology, medicines, agrochemicals, vehicles, or two-wheelers. We now have good Indian enterprises in Brazil. Our objective from the Indian side is to expand, deepen that footprint, and attract new industries and firms “He stated.

Mr. Jaishankar also interacted with LIDE, a Brazilian business organisation.

He tweeted, “A valuable interaction at LIDE…, Networking of established Brazilian entrepreneurs with a rising Indian presence in Brazil was apparent.”

Mr. Jaishankar finished his first official visit to Paraguay on Monday when he met with the country’s leadership and committed to expanding bilateral ties.

He officially opened the Indian Embassy in Asuncion, the capital city. Jaishankar and his Paraguayan colleague Julio Cesar Arriola jointly opened the Indian Embassy in Asuncion.

Read more: EAM Jaishankar unveils bust of Mahatma Gandhi in Paraguay

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