India – Brazil Bilateral Relations

India Brazil relations is deep and huge covering every essential part of relation, basically bilateral in forum like IBSA, BRICS, BASIC, G-20, G-4 and on the bigger multilateral level like the UN, WTO, UNESCO, WIPO, etc. Bilateral connections between India and Brazil have acquired the dimension of a vital tie-up in the last ten years under the control of prior Brazilian President Luiz Inacio Lula da Silva. His descendant President Dilma Rousseffr paid a visit to India in March 2012 which added terrific devoir and smug to India-Brazil relations. During the visit, she interacted with previous Indian Prime Minister Manmohan Singh and adhered comprehensive excursus on bilateral, regional and multilateral affairs including inclusive of alia trade and commerce, science and technology, cultural exchange, UNSC reforms, terrorism, WTO and climate change. Both the leaders modernized their duty to toughen the India-Brazil Vital Partnership. President Dilma Rousseff also met Prime Minister Manmohan Singh during the BRICS Summit in Durban in March 2013, Rio+20 Sustainable Development Summit in June 2012, BRICS Summit in China in April 2011, IBSA Summit in South Africa and during the G-20 Summit in Cannes in Nov 2011.

Brazil is one of the most paramount commercial ally of India in the entire LAC region. India Brazil bilateral trade has expanded extensively in the last twenty years. Though, India's total bilateral trade (in goods) with Brazil fell to 9.5 billion dollars in 2013 declining by 10.7% from 10.6 billion in 2012 (Trade in goods and services, however, grew  to approx US$12 billion). Imports from Brazil to India that had increased strongly in 2012 from 3.2 billion US Dollar to 5.6 billion US Dollar.  This decreased as sharply in 2013 due to decrease in crude oil exports of Brazil. Crude-Diesel building a big share in our bilateral trade, near to 50%, is forced to create such dire fluctuations leaning on performance of this sub sector in a intrinsic year. Indian exports to Brazil that had witnessed the decrease in 2012 increased again past the 6 billion US Dollar mark largely due to rise in the diesel exports this year, fruit of persisted robust domestic demand and decrease in its own production in 2013 in Brazil. Brazil's share in Indian export market was about 2.6% whereas Brazil's share in Indian imports is about 1.3%. Huge portion of Indian exports to Brazil inclusive of fabricated products, ensued by assets and then semi fabricated goods.  Brazil's exports to India are influenced by assets such as crude oil. Diesel exports by Reliance itself account for more than 52% of India's exports to Brazil, up from the 41% of India's exports in 2012. Other top Indian goods sent out to Brazil are: Polyester Yarn, Chemical Products, Drugs and Cotton Yarn. Most of these goods have certified increase in2013. Top goods imported by India from Brazil include crude oil (imported by Reliance, accounting for, in 2013, 51% of total Indian imports or US$1.6 billion); 4 sugar (imported by Renuka Sugar India from Renuka do Brazil, at US$ 435 million, accounting for almost 14% of total imports); soy oil imports (US$233 million) and copper (US$240 million). Like Petroleum, the top 5 Brazilian exports to India viz. sugar, Soybean oil crude, Sulphide copper ores and other Copper ores and concentrates, all showed a less growth in 2013 over the year 2012.

by- Gaurav Bhatia