‘India-Brazil trade growing but lopsided’

November 14th, 2008 - 7:00 pm ICT by IANS  

New Delhi, Nov 14 (IANS) Although bilateral trade between India and Brazil has increased over the years, it is highly lopsided, a senior government official said here Friday.”Indian businessmen have been frequently exploring trade domain of Brazil, while their Brazilian counterparts have remained with their traditional partners and have been less active in discovering newer ventures,” said Hardeep Puri, Secretary, Economic Relations, Ministry of External Affairs.

Puri was speaking at an interactive session with a business delegation from North-East Brazil, organised by the Confederation of Indian Industry (CII).

Added Eduardo Capos, Governor of Brazil’s Pernambuco state: “BRIC economies need to stand together to help the world overcome the present economic challenge. In the year 2002, trade between BRIC countries was worth $7 billion, which has risen to $50 billion today.”

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