The Brazilian Export and Investment Promotion Agency (Apex-Brasil), in partnership with the Ministry of Foreign Affairs (MRE), is organizing a business mission to India on January 27 and 28, during the visit of the President of the Republic Jair Bolsonaro to New Delhi.

The delegation is composed of about 70 representatives of Brazilian companies and sector associations. Sectors such as food and beverages, biofuels, biotechnology and furniture will also be present, with emphasis also on the defense, pharmaceuticals, footwear and leather, home and construction, metals and precious stones, minerals, chemicals, cereals, machinery and equipment and IT services.

The Mission's agenda includes the India-Brazil Business Forum seminar, held in partnership with the Indian government, the Confederation of Indian Industry (IIC), the Indian Chambers of Commerce and Industry (ASSOCHAM) and the Federation of Chambers of Commerce and Industry of India. India (FICCI). The event will be held on Monday (01/27), with the presence of authorities from both countries, Brazilian and Indian businessmen and investors. The program also provides for technical visits and networking events between Brazilian and foreign entrepreneurs on the 28th.

"We see great business opportunities with the country and we are working to promote the rapprochement between Brazilian and Indian businessmen", evaluates the president of Apex-Brasil, Sergio Segovia. At least seven sectorial export promotion projects developed by Apex-Brasil in partnership with the private sector today have India as a priority market: ABIMO (Medical and Hospital Equipment); ABPA (Pork, Chicken and Eggs); ASSINTECAL (Parts of shoes); CICB (Leathers); CITRUSBR (Orange Juice); IPB (Food, Medical Accessories and Cosmetics for Animals) and UNICA (Ethanol and Derivatives).

MOU 

During the mission, Apex-Brasil and Invest India will sign a memorandum of understanding for joint action in promoting business between the two countries. The agreement provides for the exchange of information and opportunities on investment and start-up ecosystems, and the sharing of experiences and best practices in attracting investments, in addition to supporting the internationalization of startups. "We will support startups in India and Brazil throughout their life cycle, with innovation actions and programs, promoting joint events and exchanging technical knowledge and opportunities" comments Segovia.

Comercial relations 

Trade exchanges between Brazil and India totaled US $ 7.02 billion in 2019, with Brazilian exports worth US $ 2.76 billion and imports from India worth US $ 4.26 billion. Basic products represented 46% of Brazil's exports to the country. The main subgroups of products exported from Brazil to India were: crude petroleum oils, crude soy oil, gold in semi-manufactured forms, raw sugar and other metals and precious stones. In imports from Brazil originating in India, the main items purchased are organic chemical products, other petroleum products, pesticides and pharmaceutical products.

India's Direct Investment (FDI) stock in Brazil grew 39% from 2010 to 2018, reaching US $ 1.7 billion in 2018, with 66% of FDI in the Manufacturing Industries sector and 23% in the extractive industries sector. On the other hand, the Brazilian FDI stock in India grew 84% between 2013 and 2018, from US $ 50 million to US $ 92 million. Among the Indian investments made in Brazil, those in the energy transmission sector, agricultural pesticides and heavy vehicle manufacturing stand out. In the opposite direction, Brazilian investments in India stand out in sectors such as electric motors, bank terminals and heavy vehicle components.

The growth of the Indian economy is expected to be just over 6% in 2020, after remaining around 7% in the last five years, anchored in factors such as high domestic consumption, middle class growth, household savings, age of the population , government reforms and initiatives and infrastructure projects. Economic growth at the current rate will continue to positively impact the market, especially in sectors such as agribusiness (emphasis on agriculture), automotive components, aviation, gems and jewelry, health services, infrastructure, oil and gas, pharmaceuticals, energy, civil construction and real estate.