The bilateral trade between India and Brazil has almost trebled over the last three years to US $ 3.12 billion in 2007 and has already reached US $ 2 billion within the first six months of this year. Given this unprecedented growth pattern, it is certain now that the trade target of US $ 10 billion between the two countries set during the visit of President Lula to India in June, last year will be achieved ahead of its schedule in 2012. It is also to be noted that the trade between India and Brazil has been becoming diversified and is no longer dominated by one or two items. The countries of the size of India or Brazil have many products to offer to world and most importantly to each other.

On the investment front too, there are healthy signs. At least eighteen Indian pharmaceutical companies have opened their offices or production facilities in Brazil. While Tata Consultancy Services (TCS) are providing jobs to at least 2000 Brazilians in Brazil, the other two major IT companies, Satyam and Wipro have major plans for expansion in Brazil. A major Indian oil company, OVL, has already invested close to US $ 750 million in Brazil. There are many initiatives on behalf of Indian companies to invest in rising ethanol sector of Brazil. On the other hand, Marcopolo, Stefanini, WEG and Gerdau have already invested in India. CVRD and Embraer have either set up offices or have representatives in India. These are just some of the examples of breaking new grounds of economic cooperation between our two countries.

The following Annual reports can give you more perspectives on the evolution of economic and commercial relations between India and Brazil. Please download them to know more on this.