A high-level Brazilian business delegation, led by State Deputy Marcelo Rangel of Parana, recently held discussions with Indian industry leaders in Mumbai, signaling a push to deepen trade and investment ties between the two nations. The talks, hosted by the MVIRDC World Trade Center (WTC) Mumbai and the All India Association of Industries (AIAI), centered on opportunities in agriculture technology, pharmaceuticals, IT, and infrastructure—sectors where Brazil, particularly the state of Parana, is actively seeking Indian expertise and collaboration.
The delegation, which included mayors, entrepreneurs, and representatives from the Indo-Brazilian Chamber of Commerce, underscored Brazil’s growing demand for agri-tech solutions, biofertilizers, IT services, and construction materials. Marcelo Rangel highlighted Parana’s investment potential, inviting Indian firms to explore joint ventures and research partnerships. “Brazil, especially Parana, offers significant opportunities in agriculture, technology, and regional development,” he said, according to a WTC Mumbai statement. Brazilian officials also emphasized their openness to joint R&D in agriculture and emerging industries, while pointing to favorable investment conditions in oil and gas, sugar, and mining.
The discussions come at a time when bilateral trade between India and Brazil has reached USD 12.2 billion in 2024–25—a figure that industry leaders believe could expand significantly. Vijay Kalantri, Chairman of WTC Mumbai and President of AIAI, noted that while trade has grown, logistical challenges such as high freight costs remain a hurdle. “The trade can grow multifold over the next five years if we address these inefficiencies,” he said. Kalantri also identified IT, pharmaceuticals, specialty chemicals, sugar, ethanol, steel, automobiles, and textiles as key sectors with untapped potential for collaboration in both goods and services.
Beyond trade figures, the meeting underscored the need for faster implementation of agreements. Kalantri acknowledged the strong diplomatic and economic trust between the two nations but stressed that “quicker action” is required to turn discussions into concrete outcomes. The Brazilian delegation included influential figures such as Dayane Sovinski, Mayor of Imbau and President of the Mayors Association of Parana, and Marcelo Palhares, Mayor of Jacarezinho and entrepreneur, alongside Paulo Azevedo, Secretary General of the Indo-Brazilian Chamber of Commerce.
Sectoral cooperation took center stage during the talks, with a focus on market entry strategies, investment prospects, and technology-driven partnerships. Indian industry representatives engaged with their Brazilian counterparts on agri-tech innovations, IT services, and trade in construction materials like ceramic tiles. Both sides identified common interests in agriculture, energy, and industrial development, with WTC Mumbai describing the meeting as “a significant step” toward advancing India-Brazil business relations.
The discussions reflect a broader trend of emerging economies seeking to diversify trade partnerships amid global supply chain shifts. For Indian businesses, Brazil’s push for collaboration in agri-tech and infrastructure presents an opportunity to expand into Latin America’s largest economy. Meanwhile, Brazil’s emphasis on investment-friendly policies in key sectors could attract Indian firms looking to scale operations internationally. Sustained political and business engagement, as agreed upon by both sides, will likely be crucial in translating these discussions into tangible economic growth.