Piyush Goyal pitches for activation of India-Brazil Business Leaders Forum

Union Minister for Commerce and Industry Piyush Goyal today suggested the Brazilian side to reconstitute and activate India-Brazil Business Leaders Forum to boost economic ties between the two countries. He was speaking at the luncheon meeting of business leaders of both the sides in the presence of the Brazilian President.

Mr Goyal requested the Indian industry to give fresh nominations of people who are looking for engaging with the South American country.

Talking about business opportunities in both the countries, he said that businesses of both the sides can look at potential in areas like railways, infrastructure, tourism, agriculture, clan energy and start-ups.

The Minister said that both the countries have set up a target to take the bilateral trade to 15 billion dollars by 2022 from the current 8.3 billion.

Mr Goyal, who also holds the railways portfolio, said that there is a plan to make Indian Railways net-zero carbon emitter by 2030 and 100 per cent electrification by 2024.

The Minister welcomed the announcement made during the visit of President of Brazil to India for visa free travel between the two countries. He added that visitors for business and tourism between two countries will benefit greatly from this.

Speaking at the function, President Jair Bolsonaro said that huge potential is there for Indian businesses in Brazil. He said, Brazil’s potential is unmatched and for both the countries, a lot opportunities are right before them.

Brazilian Foreign Minister Ernesto Fraga Araujo said, both the countries can increase cooperation in attracting investments.Mines Minister Bento Albuquerque said that both the sides can enhance cooperation in areas like ethanol to make it a global commodity. He said, increase in cooperation in clean energy can help both the countries to become a low carbon economy.

Brazilian Agriculture Minister Teresa Cristina said that huge investment potential is there in the sector for both the sides. She said, Brazil can export sesame seeds to India.