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Republic Day 2020: Brazilian President Bolsonaro Receives Grand Welcome At Rashtrapati Bhavan

Bolsonaro Is Accompanied By His Daughter Laura Bolsonaro, Daughter-in-law Leticia Firmo, Eight Ministers, Four Members Of The Brazilian Parliament And A Large Business Delegation.

News Nation Bureau | Edited By : Fayiq Wani | Updated on: 25 Jan 2020, 12:04:10 PM
This is the first visit of President Bolsonaro to India.

This is the first visit of President Bolsonaro to India. (Photo Credit: Twitter)

New Delhi:

Brazilian President, Jair Messias Bolsonaro on Saturday received a ceremonial reception at Rashtrapati Bhawan. He was received by President Ram Nath Kovind and Prime Minister Narendra Modi. Bolsonaro accompanied by his daughter Laura Bolsonaro, daughter-in-law Leticia Firmo, eight ministers, four members of the Brazilian parliament and a large business delegation arrived in India on Friday. This is the first visit of President Bolsonaro to India.

The Brazilian president is in India primarily to grace the Republic Day celebrations on Sunday as chief guest and explore ways to boost trade ties with India at a time when both the large economies are hit by slowdowns.

External Affairs Minister Jaishankar meets Bolsonaro

External Affairs Minister S Jaishankar on Saturday met Brazilian President Jair Messias Bolsonaro and discussed ways to deepen ties between the two countries in a range of areas, including trade and investment.

After the meeting, Jaishankar said in a tweet that Bolsonaro’s visit will open “new opportunities” for bilateral cooperation. “Pleased to welcome the Chief Guest for #RepublicDay2020 President @jairbolsonaro of Brazil. His visit will open new opportunities for our bilateral cooperation. It also symbolizes the global rebalancing underway,” he said.

India-Brazil ties have been on an upswing in the last few years.

The volume of bilateral trade was USD 8.2 billion in 2018-19. This included USD 3.8 billion worth of Indian exports to Brazil and USD 4.4 million as imports by India.

Both the governments feel there is huge potential to enhance the bilateral trade further.

Major Indian exports to Brazil include agro-chemicals, synthetic yarns, auto components and parts, pharmaceutical and petroleum products. Brazilian exports to India include crude oil, gold, vegetable oil, sugar and bulk mineral and ores.

Indian investments in Brazil were around USD 6 billion and Brazilian investments in India are estimated at USD 1 billion in 2018.

Brazilian investments in India are mainly in automobiles, IT, mining, energy and biofuel sectors. India has invested in Brazil’s IT, pharmaceutical, energy, agri-business, mining and engineering sectors.

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First Published : 25 Jan 2020, 12:04:10 PM