Second Meeting of India

Brazil keen to do biz with India: Sharma (Financial Express, Feb 13, 2006)

By Huma Siddiqui

New Delhi, Feb 13 Brazil, which has emerged as the “natural leader” among Latin American countries, is changing a shift in its perception of India.

“Both the government and business class in Brazil are more than enthusiastic about making investments in India”, according to Anand Sharma, minister of state for external affairs.

Some significant pointers in this direction are talks for tie-up between CVRT, the Brazilian mining major and Ircon, and the fact that Petrobras is scouting for exploration opportunities in India.

Talking to FE, Mr Sharma said that, “during the recent meetings in Sao Paulo, the Brazilian side expressed keen interest in doing business in India.

CVRT, one of the largest mining companies in the world for example, is looking for a mining business in India, while Petrobras is expected to participate in the next round of exploration bidding.In view of the potential available in the mining sector, CVRT has already opened an office in New Delhi.

Also, said Mr Sharma, Ircon has won a $600 million contract to rehabilitate CVRT captive railway lines linking mines with ports. The project, which involves around 800 km of railway lines, is expected to be spread over several years.

Amazon To Ganga

• Brazilian oil giant, Petrobras is expected to join the next round of exploration bidding in India
• CVRT, the global mining major, based in Brazil, has already opened an office in New Delhi

Mr Sharma, who has just come back from Brazil, said that Latin America is realising the business potential of India and the long-term implications of this would be tremendous.

“On our part, we are facilitating co-operation between ONGC Videsh and Petrobras. Petrobras is expected to participate in the next round of exploration bidding”. As a long-term strategy towards energy security, we have also initiated steps to absorb technology from Brazil on use of ethanol as automobile fuel,” he said.

A high-level team from Brazil will be arriving shortly to help carry out a feasibility study and prepare a road map for the automobile industry on the use of ethanol, he added.

He also said that cooperation in the petroleum and tourism sectors is also on the cards. “In the month of April, a workshop on tourism will be held in Delhi for Latin American tour operators to help them promote India as a popular tourist destination.”

Financial Express.com

India Inc. gets high on ties with Latin America (The Economic Times, Feb 9, 2006)

New Delhi: You can call it India Inc's Rio carnival. Or Tequila Sunrise, if you will. Whatever be the description, more and more corporate biggies are now joining the Samba. Reliance, TCS, ONGC Videsh, Ircon and Ranbaxy are just a few of the big players who have fallen in love with Latin America.

Consider this: Ircon has won a $600-m contract to rehabilitate a captive railway line owned by Brazilian mining giant CVRT, while TCS is on a major hiring binge in the south American country due to the recent $100-m contract won from ABN Amro. Reliance is shopping for an oilfield in Columbia, while Ranbaxy’s growing business in Brazil is spilling over to other Latin American countries.

The government has also inked agreements for co-operation with Brazil in various areas, including defence — a sector which was not touched by India-Brazil relations till now. Co-operation in the petroleum sector and tourism is also on the cards, according to Anand Sharma, the new minister of state for external affairs. Having recently returned from a visit to Brazil, he feels that Latin America is realising the business potential of India and the long-term implications would be tremendous.

“On our part, we are facilitating co-operation between ONGC Videsh and Petrobras. As a long-term strategy towards energy security, we have also initiated steps to absorb technology from Brazil on use of ethanol as automobile fuel,” Anand Sharma told ET.

India is also working on enhancing ties with Mercosur — the Latin American trade bloc with which India has concluded a Preferential Trade Agreement. We expect a big boost in ties with south American countries, he added.

The Brazilian side is also keen to pick up business in India, Mr Sharma said. CVRT, for example, is looking for a mining business in India, while Petrobras is expected to participate in the next round of exploration bidding. In view of the potential available in the mining sector, CVRT — one of the largest mining companies in the world — has already opened an office in New Delhi.

The contract won by Ircon is for restoration of the CVRT railway lines which run from mines to ports. The project involves 800 km of railway lines and Ircon’s project will be spread over several years.

In case of TCS, the current focus is on hiring nearly 600 more people in Brazil. The headcount in the south American country is being raised to 1,200 from the current level of 600.

The company has won a big contract from ABN Amro for developing software in Brazil. The number of Indians to be deputed to Brazil for the project would be just around 30, while the rest would be recruited in the south American country since the software is meant for consumers using the Portuguese language.

ONGC Videsh’s proposed acquisition in South America is worth $700m, while Reliance is in talks for an oil field in Columbia. Reliance already sources crude from various south American countries, including Mexico, Ecuador, Venezuela and Brazil. The Mukesh Ambani Group company also exports diesel to Brazil. In the defence sector, India did not have any cooperation with Brazil till now. A pact has been inked during Mr Sharma’s visit to provide for joint military exercises. Brazil is also willing to provide advanced helicopters to India and sharing of aerospace technology is also on the cards.

The Economic Times

IBEF

Sharma to visit Brazil to discuss UN reforms strategy (Zeenews.com, Feb.2, 2006)

New Delhi, Feb 02: Barely three days after assuming office, Minister of State of External Affairs Anand Sharma will travel to Brazil today for a three-day visit during which the two countries will discuss future strategy on UN reforms and hold the India-Brazil Joint Commission meeting.

The two countries will sign educational and cultural exchange programmes during the trip.

Sharma will discuss with Brazilian Foreign Minister Celso Amorim the future strategy of G-4 for securing permanent membership in UN Security Council, official sources said here.

India and Brazil are members of the trilateral forum IBSA (India-Brazil-South Africa), which is making a joint effort for reform of UN Security Council that is reflective of the contemporary realities.

The two countries also cooperate with each other multilaterally through G-4 and G-20 on various international issues like WTO.

During his first foreign visit, Sharma will also co-chair the second Joint Commission meeting under which the two countries will discuss strengthening of cooperation in diverse sectors such as energy, agriculture, healthcare, trade, rural development, science and technology, defence, culture, education, tourism and space research.

Bureau Report
Zee News.com