- China will get a big shock!
- India's 30 billion dollar business plan with Brazil
- 'These' 5 areas will benefit greatly
India Brazil Business Plan : India is trying to strengthen its presence in the world. Efforts are being made to achieve oneself by creating one's position through the ongoing efforts. India's foreign trade has grown tremendously in the last few years. Going beyond the global superpowers, India is now establishing its existence with other countries. India and Brazil now plan to increase bilateral trade to $30 billion by 2030. Currently, bilateral trade between the two countries is expected to reach $15.07 billion in 2025-26. (India Brazil Business Plan)
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In which sector will the trade grow?
In this meeting, several sectors with great potential for trade and investment have been selected. This will significantly benefit the Indian pharmaceutical industry. India has demanded easier regulatory procedures and availability of Indian medicines in Brazil. Both the countries have placed special emphasis on increasing trade in the pharmaceutical sector.
Agriculture and Food Sector
India is an agrarian country hence providing market access to India's agribusiness sector and promoting export of food products were also discussed. Brazil can become a major market for agricultural products, while India can increase imports of Brazilian agricultural products. This can further expand trade between the two countries.
Engineering goods, chemicals and machinery
The chemical sector is seen as a major sector for trade expansion. Both the countries will try to increase exports and investments in this sector. A consensus was also reached on increasing trade in engineering goods, chemicals and machinery equipment. This sector can give a new boost to industrial development in both the countries.
Reducing dependence on China
The two countries have also decided to increase cooperation in rare earths and important minerals. This can help India reduce its dependence on China. The two countries are also working to increase cooperation in AI, digital technology, semiconductors and digital infrastructure.
Commerce Secretary Rajesh Agrawal and Brazilian officials emphasized that the two countries will not only focus on increasing trade, but also strengthen long-term investment, market access and industrial cooperation. “We aim to create a balanced and sustainable economic relationship for both countries,” he said.
August GST Collection : Big jump in GST collection after strong GDP figures! Lakhs of crores collected in August