MercoPress. South Atlantic News Agency

Indian delegation after investments and technology cooperation with Brazil

Commerce, industry and textiles minister Anand Sharma is leading the delegation

India has invited companies from Brazil to invest in the country’s national infrastructure, manufacturing in Special Economic Zones and the food processing sector.

Commerce, industry and textiles minister Anand Sharma, who is leading a large business delegation from India, met his Brazilian counterpart Fernando Pimentel and other senior ministers and officials to deepen bilateral economic and trade linkages between the two key BRIC nations.

Indian policymakers are exploring ways to attract foreign investment and increase capital flows. Large investments are needed in the infrastructure sector and projects such as the manufacturing Special Economic Zones. India and Brazil play key roles in the group of 20 nations.

A government statement said both sides agreed that infrastructure was one area in which lot of opportunities existed on both sides for companies to participate. India has plans for 1 trillion dollars investment in the infrastructure sector over the next five years to build roads, ports, airports and highways.

During the recent visit of Brazilian President Dilma Rousseff to India in March, she invited the minister to visit Brazil for advancing bilateral economic and commercial relations. She also sought India's assistance to address the larger issue of making essential drugs available at affordable prices.

Sharma's delegation comprises representatives from 15 top Indian companies coordinated by Pharmexil. During the ministerial dialogue, both sides agreed that the setting up of a working group on pharmaceuticals and life sciences would be a welcome step towards furthering the cooperation between India and Brazil in this crucial area.

Brazil expressed keen interest in collaboration with India in joint production of essential drugs for fighting HIV Aids, malaria, and other diseases.

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 talks held 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.

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

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, nano-metrology, analysis of surface and thin films, bio-fuels, 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