Current AffairsIndia

Brazil President Bolsonaro to be Chief Guest at R-Day parade

New Delhi, Jan 21 (GCCurrentAffairs) President of Brazil Jair Messias Bolsonaro will be the Chief Guest at the 71st Republic Day Parade on January 26, 2020 in the national capital.
The Ministry of External Affairs said here on Tuesday that President Bolsonaro will be paying a State Visit to India from January 24 to January 27 at the invitation of Prime Minister Narendra Modi.
The visiting dignitary will be accompanied by seven Ministers, Chairman of Brazil-India Friendship Group in the Brazilian Parliament, senior officials and a large business delegation.
​The last Presidential visit from Brazil was by President Michel Temer in October 2016 on the sidelines of the VIII BRICS Summit in Goa.
Prime Minister Modi also has visited Brasilia to attend the XI BRICS Summit in November 2019.
“​This is the first State Visit of President Bolsonaro to India. Earlier, we have received President of Brazil as Chief Guest for our Republic Day Parade in 1996 and 2004,” the MEA statement said.
President Bolsonaro will also meet President Ram Nath Kovind on January 25 when a Banquet will be hosted in his honour.
Mr Bolsonaro will also hold talks with the Prime Minister.
Vice President M Venkaiah Naidu and External Affairs Minister Dr S Jaishankar will also call on President Bolsonaro, the MEA said.
On January 27, President Bolsonaro will address Indian and Brazilian Business leaders at the India-Brazil Business Forum.
India and Brazil share a close and multifaceted relationship.
“Our bilateral relations are based on a common global vision, shared democratic values, and a commitment to foster economic growth of both countries”.
Bilateral relations 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 statement said.
​Bilateral trade between India and Brazil increased to USD 8.2 billion in 2018-19. This included USD 3.8 billion as Indian exports to Brazil and USD 4.4 million as imports by India.
​Indian investments in Brazil were around US$ 6 billion and Brazilian investments in India are estimated at US$ 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.

Via UNI-India

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