India, Brazil to boost trade to $15 billion by 2015

India and Brazil set to enhance bilateral trade to a target of $15 billion by 2015. Presently, the bilateral trade stands at $10 billion.

  • India seeks investments from Brazil for establishing the National Manufacturing and Investment Zones (NMIZs).

Objective: To augment the share of the manufacturing sector in the GDP to at least 25% by 2020 from 16 % at present. For the same, a new National Manufacturing Policy (NMP) was announced recently, supporting setting up of NMIZs.

What are NMIZs?

  • NMIZs will be mega industrial zones with top-notch supporting infrastructure. The government is providing incentives and a liberalized labour and environment norms to promote these zones.

India needs about $1 trillion investments in the infrastructure sector in the next 5 years.

  • Brazilian industry is also looking for investments from India in infrastructure sector in light of Brazil hosting 2016 Olympics game.

Which among the following place in Rajasthan is making news for becoming the site for first National Manufacturing and Investment Zones” of India?

  • Neemrana

Related News: National Manufacturing Policy and National Manufacturing and Investment Zones

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