By IANS,
Kolkata : Amid global economic downturn and India’s persistent slowdown in economic growth, Brazil is optimistic that its bilateral trade with India would surpass the target of $15 billion by 2015, its envoy to India said Thursday
Currently, the volume of trade between the two countries stood at $10 billion.
“Both the countries are allowing for a lot of opportunities in trade among themselves. There is a lot of scope for growth,” Brazilian Ambassador Carlos Duarte said here.
“We will continuously work together towards that goal (of $15 billion). I hope that we would surpass that target,” he said.
In the backdrop of India’s persistent slowdown in economic growth, rating agency Standard and Poor’s has recently warned that India would be among the first BRICS country to lose investment grade status. The other BRICS countries are Brazil, Russia, China and South Africa.
Duarte said there were a lot of opportunities for India to invest in Brazil’s hotels and infrastructure sectors as the South American country would host the FIFA world cup and Olympic Games in 2014 and 2016, respectively.
He said there was scope for Indian investment in IT and oil and gas industries in Brazil as well.