India invites Brazilian industries to become part of its growing supply chain

New Delhi: India has invited Brazilian companies to participate in its growing supply chain with a view to strengthen economic ties between the two countries, an official statement said on Thursday.

Commerce Secretary Sunil Barthwal, who was in Brazil from October 1 to 4, also discussed ways to promote trade between the two countries.

He was there for the sixth meeting of the India-Brazil Trade Monitoring Mechanism (TMM).

Both sides extensively discussed matters related to bilateral trade and outlined a roadmap for its further enhancement, the commerce ministry said.

The secretary "invited Brazilian industries to be part of the growing supply chain," it said.

Barthwal was accompanied by a delegation of 20 business leaders.

"The visit was happening in the backdrop of the sharp growth in the bilateral trade which had doubled over the last two years reaching USD 16 billion," it said, adding the two sides explored new opportunities for promoting trade.

The secretary also held meetings with Brazilian companies that have invested in India.

This meeting also included discussions on new trade and investment opportunities.

Barthwal interacted with representatives from leading MICE (Meetings, Incentives, Conferences, and Exhibitions) companies in Brazil.

On October 4, he co-chaired the meeting with Secretary of Foreign Trade for the Federative Republic of Brazil Tatiana Lacerda Prazeres in Brasília.