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Lula offers Brazil's help for Indian infrastructure

Source : IANS
Last Updated: Fri, Nov 23, 2012 12:30 hrs

New Delhi, Nov 23 (IANS) Brazil's former president Luiz Inacio "Lula" da Silva Friday said his country can be a partner in India's infrastructure and renewable energy resources development.

The two countries, he said, could work out strategies and partnerships that would not only bring in economic benefits but also provide substantial impetus for growth in their respective regions.

Besides business and trade collaborations, Brazil can help India in skills development and poverty alleviation.

Lula, who played a fundamental role in Brazil's transition to a modern economy and forging South−South cooperation and turning IBSA grouping into a force to reckon with, was addressing Indian industrialists here at a session organized by the Confederation of Indian Industry (CII).

Trade between India and Brazil, part of the BRICS group of emerging economies, is growing at 35 percent per year despite the economic slowdown. The volume of bilateral trade crossed $10 billion in 2011−12.

Brazil is rich in natural resources and many offshore oil discoveries have been made recently. Indian companies have forayed into the IT, BPO, pharmaceuticals, agribusiness, agrochemicals, oil, mining and manufacturing sectors of Brazil.

Brazilian companies have principally invested in India in the infrastructure, automobile, steel, petroleum and natural resources.

Lula was Thursday presented with the Indira Gandhi award for Peace, Disarmament and Development for 2010 by President Pranab Mukherjee here for his contribution towards eliminating hunger and promoting inclusive growth in Brazil, and for championing strong ties among developing countries.

Brazil President Dilma Roussef visited India earlier this year, where the leadership of the two countries resolved to increase bilateral trade and investment.




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