The Vice President of the Republic and Minister of Development, Industry, Commerce and Services (MDIC), Geraldo Alckmin, participated in the inauguration of the Embraer office in New Delhi, India. On this occasion, agreements were signed in the areas of technology, defense and the aeronautical industry.
Accompanied by other Brazilian authorities, Alckmin made, this Friday (17), an overview of the trip to India.
“We had a great meeting between Indian businesspeople and Brazilian businesspeople. We noticed an increase in investments by Indian companies in Brazil and Brazilian companies in India”, said the vice-president minister.
Embraer
Alckmin recalled that there are already many Embraer planes flying in India. According to him, the Brazilian company’s models well meet the Indian demand for regional flights with less cost and more efficiency.
There is also interest from the Indian Air Force in acquiring the C-390 cargo plane, which, according to Alckmin, it would represent “a strategic leap in the bilateral relationship, promoting technology transfer, job creation and gains in sovereignty for both sides”.
In the opinion of the Minister of Defense, José Múcio, the opening of the Embraer office in India represents “a concrete step in the construction of industrial and technological bridges” in addition to the company’s commitment to investing in India.
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Business
During the mission, Brazil and India also defined a schedule to expand the Mercosur–India Preferential Trade Agreement, currently considered restricted. The Brazilian government wants to increase bilateral trade to US$15 billion in 2025 and US$20 billion by 2026.
The current treaty covers only 450 product categories and provides for modest tariff reductions, between 10% and 20%. The proposal under discussion seeks to expand the number of benefited products and deepen commercial preferences.
“I also want to highlight that yesterday [quinta-feira, dia 16] we completed an understanding to expand the tariff lines of preference between Mercosur and India. In the coming months, we will work to strengthen economic complementarity and increase investments,” said Alckmin.
Business and e-visa
The minister recalled that, even before going to India, the Brazilian government published two decrees relevant to commercial relations between the two countries.
“One of them, establishing an investment facilitation agreement; and the other avoiding double taxation”, detailed Alckmin.
For Alckmin, “This will bring more legal security to this good work in the economy between Brazil and India”, he added.
Alckmin also recalled that starting next week, business between the two countries will be facilitated with the entry into force of an electronic visa for business and consultancies.
Health and oil
In the health area, a partnership was signed between Fiocruz and an Indian company, with possibility of transferring vaccine technology; and in the oil area, a contract was signed by the Petrobras to export more than 6 million barrels to India.
Alckmin invited India to participate in the dispute for blocks aimed at exploring oil in some of the Brazilian basins.
“The National Petroleum Agency (ANP) should launch six blocks next year, for oil exploration in the Campos and Santos basins, with the possibility of having another 18 blocks,” said the minister.
The Brazilian mission brought together representatives from 20 sectors, including agribusiness, technology, energy and health.
