India, Brazil set to seal trade, pharma & minerals pacts during President Lula

Brazil is developing its critical minerals sector and an MoU in this field is expected, with India eyeing the huge deposits in the Latin American continent.

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Indian and Brazilian officials are finalising the terms of the agreements the two countries will sign during President Luiz Inacio Lula da Silva’s official India visit next week. These pacts are expected to boost India’s pharmaceutical exports, trade in essential minerals, and support the civil aviation sector. People-to people contact will also get a major boost, with Brazil announcing a 10-year-multiple entry visa system for Indian tourists, the country’s envoy to India, Kenneth H da Nobrega, told ET ahead of Lula’s February 18-22 trip.The envoy hinted that Brazil is also easing business visas for Indian professionals with an increase in bilateral trade and investments.Nobrega said the memorandum of understanding (MoU) related to health will be a win-win for both sides. Brazil’s public health care system requires huge quantities of medicines, he said, adding that Indian exporters are well poised to serve the market due to competitive pricing.

Brazil is also developing its critical minerals sector and an MoU in this field is expected, with India eyeing the huge deposits in the Latin American continent, according to the envoy.

Nobrega said that a second MoU between the Adani Group and Embraer is also expected to be inked during the president’s visit next week.Adani Defence & Aerospace and Brazil’s Embraer signed a MoU last month to establish a manufacturing facility in India for regional transport aircraft.

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