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Commerce Secretary attends 6th meeting of India-Brazil Trade Monitoring System

Utkarsh Classes 06-10-2023
Commerce Secretary attends 6th meeting of India-Brazil Trade Monitoring System Summit and Conference 4 min read

Sunil Barthwal, Secretary, Department of Commerce, Ministry of Commerce and Industry, was on an official visit to Brazil from October 1 to October 4, 2023, to participate in the 6th meeting of the India-Brazil Trade Monitoring Mechanism (TMM).

  • Sunil Barthwal was also accompanied by a delegation of 20 business leaders representing the Confederation of Indian Industry (CII).
  • The main objective of Secretary Sunil Barthwal's visit was to further strengthen the rapidly growing commercial relations between the two countries.
  • Secretary Barthwal's visit comes at a time of rapid growth in bilateral trade which has doubled to US$16 billion in the last two years.

Meeting of Indian delegation with various organizations:

  • The Indian delegation held discussions and business meetings with key Brazilian organizations and explored new business opportunities.
  • These organizations included the Brazilian Confederation of Industries, the Commercial Federation of São Paulo, the Federation of Industries of the State of São Paulo (FIESP) and the Industries of Rio de Janeiro.
  • On October 2, 2023, the delegation participated in various trade facilitation activities aimed at further promoting the growing trade relations between India and Brazil.
  • An interactive session was held with Indian companies operating in Brazil, with emphasis on building closer ties within the business community and identifying new opportunities for the development of business activities.
  • On 3 October, a meeting was held with Brazilian companies investing in India, highlighting the commitment of the Government of India to support foreign investors.
  • On October 4, 2023, the Commerce Secretary co-chaired the 6th meeting of the India-Brazil Trade Monitoring Mechanism (TMM) with Ms. Tatiana Lacerda Prajeres, Foreign Trade Secretary of the Federal Republic of Brazil, in Brasília.
  • The visit concluded with interactions with key industries and members of the National Confederation of Industries of Brazil on the opportunities offered by India's dynamic economic growth, including technology transfer, investment, etc.

Brazil:

  • Brazil is the largest country in South America. According to area, it is the fifth largest country in the world and according to population, it ranks sixth among the countries of the world.
  • Brazil is an important member of the BRICS group of countries.
  • Capital: Brazilia
  • Currency: Brazilian Real
  • President: Luiz Inácio Lula da Silva
  • National language: Portuguese

FAQ

Answer – Brazil

Answer – Sunil Barthwal

Answer - Currently, the trade between the two countries is 16 billion US dollars.
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