Union Commerce and Industry Minister Piyush Goyal has said, the country has remained the fastest-growing economy in the world for the last four years, and it aims to sustain this momentum for the next 20 years. He said, over 25 crore people have been lifted out of poverty in the last decade, with the neo-middle class powering the country’s economy. 

 

 

Addressing the India-Brazil Business Dialogue in New Delhi today, Mr Goyal said, the ongoing visit of the Brazilian delegation led by Vice President Geraldo Alckmin will lay a strong foundation for elevating the partnership between the two countries. He stressed that the two nations share a deep and complementary relationship built on mutual respect and a common vision for sustainable growth and global cooperation. 

 

 

 

The Commerce Minister also emphasised that India’s Free Trade Agreements (FTAs) with several advanced nations reflect the growing confidence with which the country is engaging in global trade. He called for deepening cooperation with Brazil, describing it as a defining relationship that brings prosperity and growth for the people of both nations. 

 

 

Vice President Alckmin, who is also the Minister of Development, Industry, Trade and Services of Brazil, said, both nations are looking to overcome the foreign trade target of 20 billion dollars in 2030. He noted that India and Brazil do not compete but complement each other.

 

 

Mr Alckmin highlighted that his country is opening its doors to Indian investment to transform its economy and forge a strong Brazil-India alliance for the future. He disclosed that Brazil wants to broaden their Preferential Trade Agreement with India to broaden trade flows and launch a digital partnership with Brazil-India towards AI.