With focus on trade, Brazillian President Jair Bolsonaro to arrive in India on Friday

WION Web Team New Delhi, Delhi, India Jan 21, 2020, 10.07 PM(IST)

Jair Bolsonaro. Photograph:( Reuters )

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According to reports, besides participating in the Republic Day celebrations as the chief guest, Bolsonaro's trip will also focus on boosting trade ties with India.

As part of his four-day visit, President Jair Bolsonaro will arrive in India on Friday.

According to reports, besides participating in the Republic Day celebrations as the chief guest, Bolsonaro's trip will also focus on boosting trade ties with India.

This will be his first visit to India since assuming power in 2018. He will be accompanied by seven ministers, top officials and a large business delegation.

"This visit is expected to further enhance and strengthen the multi-faceted ties between India-Brazil," the External Affairs Ministry said while announcing Bolsonaro's state visit to India.

A former army captain, Bolsonaro won a landslide victory in Brazil's presidential election in October 2018 and took the reins of the country in January last year.

The last presidential visit from Brazil was by President Michel Temer in October 2016 on the sidelines of the eighth BRICS summit in Goa. Modi visited Brazil in November to attend the XI BRICS Summit.

Brazilian presidents have graced the Republic Day Parade in 1996 and 2004.

India-Brazil ties have been on an upswing in the last few years.

The volume of bilateral trade was $8.2 billion in 2018-19. This included $3.8 billion worth of Indian exports to Brazil and $4.4 million as imports by India. Both the governments feel there is huge potential to enhance the bilateral trade further.

Indian investments in Brazil were around $6 billion and Brazilian investments in India are estimated at USD 1 billion in 2018.

Brazilian investments in India are mainly in automobiles, IT, mining, energy and biofuels sectors. India has invested in Brazil's IT, pharmaceutical, energy, agri-business, mining and engineering sectors.

Bilateral ties were elevated to a strategic partnership in 2006, heralding a new phase in India-Brazil relations.

"The relations are strong not only at the bilateral level, but also at plurilateral fora such as BRICS, IBSA, G-20 and in multilateral bodies particularly the UN," the MEA said.

Both the countries are also strong contenders for permanent membership of the UN Security Council. 

(With inputs from agencies)