India and Brazil signal over a DOZEN commerce treaties as Bolsonaro makes first go to to New Delhi

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Brazilian President Jair Bolsonaro’s first assembly with India’s Narendra Modi seems to have boosted financial ties between the 2 rising powers, which signed a trove of commerce and funding agreements on Saturday.

President Bolsonaro, who turned the primary Brazilian head of state to go to India, had a seemingly productive one-on-one with Prime Minister Modi earlier within the day. The 2 leaders exchanged pleasantries and heat phrases earlier than continuing with talks – essentially the most carefully watched a part of the assembly.

“Your go to to India has opened a brand new chapter in bilateral ties between India and Brazil,” Modi mentioned in his media assertion whereas greeting Bolsonaro.

On the finish of the day, Brazil and India – each members of the casual BRICS bloc – inked 11 agreements, amongst them a Strategic Partnership Motion Plan and a Bilateral Funding Treaty. Different paperwork associated to bio-energy, cyber safety, funding, well being, and medication.

Except for key ministers, Bolsonaro’s delegation additionally included representatives of 50 main Brazilian firms starting from civil aviation and agriculture to protection. As a so-called “chief visitor,” he’ll attend Republic Day – India’s greatest vacation – in a while Sunday.

Whereas India and Brazil are the world’s largest rising economies after China, they carry out past their potential with bilateral commerce amounting to some $ eight.2 billion a yr. India’s crimson carpet rollout for Bolsonaro indicators that New Delhi and Brasilia need their financial ties to thrive.

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Brazil's President Bolsonaro and India's Prime Minister Narendra Modi © Sputnik/Mikhail Klimentyev/Kremlin via REUTERS
As superpowers bicker, Brazil & India chart their very own course

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