India invites Brazil to invest in infrastructure sector

In a move to enhance investments in infrastructure sector, India’s Minister of Commerce, Industry and Textiles, Anand Sharma has invited the Brazilian investment in recently launched National Infrastructure and Manufacturing Special Economic Zone (SEZ) as well as in the food processing industries at a meeting with the Brazilian Minister of Development, Industry and Foreign Trade, in Brasilia.

With lot of opportunities in infrastructure sector, both the nations agreed that companies from both sides should actively participate in the infra space. Further, both the nations agreed the establishment of a Working Group in the Pharmaceuticals and Life Sciences, as a step towards furthering the cooperation between India and Brazil in the area.

Brazil showed its interest in joint production of essential drugs for fighting HIV Aids, malaria, etc. Moreover, both the nations also placed emphasis on the importance of re-initiating the India-Brazil CEOs Forum, a decision taken in the form of declaration at the Summit level in March 2012. India, on the other hand, to move bilateral cooperation of Hydrocarbon sector on fast track, sought for an early meeting of the existing Joint Working Group.

Further, a Memorandum of Understanding (MoU) between the Council of Scientific and Industrial Research (CSIR), through National Physical Laboratory (NPL) and the National Institute of Metrology (INMETRO) was signed. The main purpose of the MoU was to provide a framework for the exchange and enhancement of scientific & technological knowledge services and capabilities of both the nations in the areas of chemistry, physics and engineering measurement sciences along with development of certified reference materials for thermo physics properties, nanometrology, analysis of surface and thin films, biofuels, and biotechnology.