India and Brazil are looking to conclude a whopping 20 pacts across defence, energy, agriculture, healthcare and minerals during President Jair Bolsonaro’s India trip for the Republic Day amid Delhi’s plan to gain a major foothold in the resource-rich Latin America.
Both sides are keen to add momentum to the strategic partnership signed in 2006 with focus on defence industry and robust partnership in the hydrocarbon sector. A big-ticket item at the visit could be the Bilateral Investment Treaty, which will be the first revised one that India will sign with any country, according to persons familiar with the matter.
The biggest ever Brazilian business delegation to India comprising 62 businessmen including 12 defence industry leaders will accompany Bolsonaro in this trip as Delhi and Brasilia are exploring the possibility of joint production and industrial collaboration in the defence sector, ET has reliably learnt.
In 2018, India was the 11th biggest exporter to Brazil and the tenth biggest importer from the country. While the Brazilian companies have invested in automobiles