Brazil to fast-track business visas for Indians to ease investments, technology transfer

Brazil has indicated plans to fast-track electronic business visas for Indians to enable technology transfer and make it easier for businesses to invest. Brazil’s Vice-President and Trade Minister Geraldo Alckmin, along with the country’s Defence Minister José Múcio Monteiro Filho, Health Minister, and Chief of Defence Forces, held meetings with the Indian leadership with an aim for deeper bilateral collaboration.

Speaking at the India-Brazil Business Dialogue in New Delhi, Alckmin described India as a priority partner for the diversification of exports and investments. Stating that the advancements in cooperation through the investment facilitation agreement to avoid double taxation will create a predictable and safer business environment, he indicated plans to broaden the existing Preferential Trade Agreement (PTA) between India and the Brazil-led MERCOSUR bloc to expand trade flows and strengthen long-term cooperation in the civil and defence areas.

Referring to the $12 billion bilateral trade between both nations in 2024, he said that this year’s exports from India to Brazil grew over 30%, and with exports from Brazil also growing, both countries aim at a foreign trade target of $20 billion by 2030. He urged Indian companies to invest in Brazilian sectors like automotive, IT, renewables, clean energy, healthcare, aerospace, agriculture, semiconductors, and digital innovation.

India and Brazil are also launching a digital partnership for AI, high-performance computing, and technological start-ups to generate jobs in the digital economy. Highlighting India and Brazil’s role as major food producers, he said that both countries can collaborate in agri supply chains and sustainable land use for global food security. Lauding the role played by India in the global alliance for biofuels, he said that the use of ethanol and biodiesel has shown sustainable development a way forward.