India Brazil relations
India and Brazil share multifaceted and close relation. The relationship is bilateral and also plurilateral in several platforms like G – 4, BRICS, G – 20, International Solar Alliance, IBSA and Biofuture platform. The countries also participate jointly in other platforms like WIPO, UNESCO, UN and WTO.
Joint Commission Meeting is conducted between the countries. The meeting is chaired by the foreign ministers of the countries. So far 7 meetings were held, the last meeting was scheduled in 2017 but is still pending.
Brazil is one of the most significant trading partner of India in the continent. Brazil is the 2nd largest country to import oil from India. However, the scenario had changed after 2016 with Brazil dipping to 8th position. In 2014, Brazil imported 169 million USD worth diesel from India which declined greatly to 43 million USD in 2017.
India exports nuclear reactors, machinery, boilers, organic chemicals, pharmaceuticals, textiles and man made filaments to Brazil. In 2017, India exported 2.94 billion USD worth goods. In the same year the imports were 4.66 billion USD. The imports include crude oil, petroleum products, cane sugar, copper ore, gold, soya oil.
In 2003, India and Brazil signed the Defense Cooperation Agreement. It calls for cooperation in defense research and logistic support. A Joint Defense Committee was also formed in the same year. The committee has so far met 5 times. In 2015, the committee met in Brazil and in 2017 the committee met in New Delhi.
India offers 55 ITEC slots for the Brazilian students. There are around 4,700 Indians residing in Brazil. They are involved in research, education and agriculture.
Topics: BRIC , BRICS , Foreign relations , Foreign relations of Brazil , Foreign relations of China , Foreign relations of India , Foreign relations of South Africa , International Relations , Politics by country