Press Information Bureau

Government of India

Ministry of Commerce & Industry

12-June-2012 11:39 IST

India invites Brazilian investment in infrastructure sector

Anand Sharma attends India-Brazil Ministerial Dialogue in Brasilia

Shri Anand Sharma, Minister of Commerce, Industry and Textiles had a Ministerial Dialogue with his counterpart Mr. Fernando Pimentel, Brazilian Minister of Development, Industry and Foreign Trade in Brasilia on 11th June 2012. The Minister’s visit to Brazil was in pursuance to the invitations extended to him by his counterpart Mr. Pimentel, Minister of Development, Industry and Foreign Trade and Mr. Antonio de Aguiar Patriota, Brazilian Foreign Minster.

Shri Sharma invited the Brazilian investment in recently launched National Infrastructure and Manufacturing Special Economic Zone as well as in the food processing industries. Both sides agreed that infrastructure was one area in which lot of opportunities existed on both sides for the companies to participate in.

During the recent state visit of Brazilian President Dilma Rousseff to India in March 2012, President herself had invited the Minister to visit Brazil for advancing the bilateral economic and commercial relations, as also to address the larger issue of making essential drugs available at affordable prices to our population. In this context, Minister Sharma has been accompanied by a pharma delegation of 15 top Indian companies coordinated by Pharmexil. During the Ministerial dialogue, both sides agreed that the establishment of a Working Group in the Pharmaceuticals and Life Sciences would be a welcome step towards furthering the cooperation between India and Brazil in this area. Brazil expressed keen interest in collaboration with India in joint production of essential drugs for fighting HIV Aids, malaria, etc.

Both sides stressed the importance of re-launching the India-Brazil CEOs Forum, a decision taken in the form of declaration at the Summit level in March 2012. They also agreed that the proposed meeting of the two Co-chairs of CEOs Forum would be a positive step in taking this initiative forward.

Indian side also sought for an early meeting of the existing Joint Working Group in Hydrocarbon sector to move this area of bilateral cooperation on faster track.

The cooperation in the plurilateral as well as multilateral context was also discussed during the Ministerial Dialogue and both sides expressed satisfaction at the increased level of our cooperation in this context.

A Memorandum of Understanding between the Council of Scientific and Industrial Research (CSIR), through National Physical Laboratory (NPL) and the National Institute of Metrology (INMETRO), Brazil was also signed for scientific and technological cooperation in chemistry, physics, engineering measurement sciences, development of certified reference materials for thermo physics properties, nanometrology, analysis of surface and thin films, biofuels, and biotechnology. The purpose of this Memorandum is to provide a framework for the exchange of scientific and technological knowledge services and the enhancement of scientific and technical capabilities of the two sides in the areas of chemistry, physics, and engineering measurement sciences.

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DS/GK

International investment invitation: Brazil urged to invest in Indian infrastructure and collaborate on pharmaceuticals and scientific R&D. India invited Brazilian investment in the National Infrastructure and Manufacturing Special Economic Zone and food processing, identifying infrastructure as a key bilateral opportunity. The parties agreed to establish a Pharmaceuticals and Life Sciences Working Group for joint production of essential drugs, to reconvene the Joint Working Group on Hydrocarbons, to re launch the India Brazil CEOs Forum, and signed an MoU between CSIR/NPL and INMETRO for scientific and technological cooperation in measurement sciences, nanometrology, biofuels and biotechnology.