Brazilian President Luiz Inacio Lula is going to visit India
The upcoming visit of Brazilian President Luiz Inacio Lula da Silva to India is not just a ceremonial and formal meeting. In diplomatic circles, it is being considered as a well-established ‘Samba’ dance of strategy and business, where two emerging economies of the world are preparing to move in sync. This state visit, to be held between 18 to 22 February, is taking place at a time when the entire world is going through a period of economic uncertainty and geopolitical turmoil. The meaning of this visit is not limited to just shaking hands. According to Brazilian Ambassador Kenneth H. da Nobrega, this visit is going to bring concrete results in the fields of pharmaceuticals, critical minerals (rare earth minerals), aviation and mutual cooperation.
Bilateral trade will be worth 20 billion dollars
In today’s world, when global supply chains are breaking and old trade routes are closing, India and Brazil are seeing their future in each other. Brazil is trying to reduce its economic dependence on traditional partners like America and China, while India wants to strengthen its hold in Latin America.
Prime Minister Narendra Modi and President Lula have set an ambitious target of taking bilateral trade between the two countries to $20 billion in the next five years. At present this figure is around 12.19 billion dollars. PM Modi had said an interesting thing during his visit to Brazil last year, “Football is the passion of Brazil and cricket is the heartbeat of India. When we will be in the same team, it will not be difficult to achieve the goal of a partnership of 20 billion dollars.” To achieve this goal, emphasis is also being laid on increasing the scope of India-MERCOSUR Preferential Trade Agreement, which will open new doors for the exporters of both the countries.
Rare earth treasure will be found from Brazil
One of the most important aspects of this tour is related to health and medicines. Brazil has a huge public health system, which needs large quantities of affordable and effective medicines. India, known as the ‘Pharmacy of the Developing World’, is best placed to meet this need. The agreement on health cooperation will pave the way for Indian pharmaceutical companies to gain a larger share in the Brazilian market.
On the other hand, India has its eyes on the rare earth minerals hidden in the womb of Brazil. Brazil is rich in lithium and other important minerals needed for clean energy and electronics. India wants to secure the supply chain of these minerals for its energy needs and battery manufacturing. The agreement in this area can prove to be a ‘lifeline’ for India’s future technological security.
‘Make in India’ will get a new flight
Big news is also expected in the defense and aerospace sector. There is a possibility of an agreement between Adani Defense and Aerospace and Brazilian giant Embraer to manufacture Regional Transport Aircraft in India. This will be a big achievement under ‘Make in India’. This will not only increase the aircraft manufacturing capacity in India, but will also give Brazil entry into the world’s fastest growing aviation market.
Big relief in visa rules
Apart from business and diplomacy, there is good news hidden in this tour for the common people also. Brazil has announced the introduction of 10-year multiple-entry visas for Indian tourists. This step has been taken to promote tourism and cultural exchange. Also, in view of the growing business, business visa rules are also being made easier for professionals.
