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How are the relations between India and Brazil and who benefits when India and Brazil trade with each other? So let us tell you what is the reason for such a deep relationship between India and Brazil.
Prime Minister Narendra Modi has now reached Brazil. PM Modi reached Rio de Janeiro, Brazil to participate in the G-20 summit, where he was welcomed with Sanskrit chants. PM Modi said that he hopes to meet many leaders at the summit.
Amidst PM Modi’s visit to Brazil, a debate has now erupted on how deep are the relations between India and Brazil and who benefits when India and Brazil trade with each other. So let us tell you what is the reason for such a deep relationship between India and Brazil.
What does India import from Brazil?
The main basis of good relations between the two countries is trade. It is generally observed that when there is good trade between two countries, there is less possibility of a rift in their relationship. Although India imports many items from Brazil, some items are most important. These include crude oil, soya oil, gold, raw sugar, asbestos, copper ore, iron ore, manganese, kidney beans, cowpea, valves, motor pumps etc.
What does Brazil import from India?
Products imported from Brazil include organic chemicals, diesel, pharmaceuticals and chemicals, auto components and mechanical and electrical equipment, apparel and textile products, iron and steel (and products), engineering goods including plastics, ceramics.
working together on a global platform
It has been 76 years since relations were established between India and Brazil. Both countries work together on many international forums, which include forums like BRICS, IBSA, G4, G20, BASIC. Trade and investment between the two countries has increased in the last few years. Both are also cooperating in important areas like bio-energy.
trade situation between the two countries
Trade between the two countries was US$4.66 billion in 2008, reaching $11.42 billion by 2014. But during the tenure of Modi government at the Centre, trade between India and Brazil reached $15.20 billion by 2022. When there is trade between the two countries, the number of exports from India remains high.