Economic progress in India opens up avenues for bilateral cooperation: MoS Muraleedharan in Brazilian Congress

Brasilia [Brazil], November 8 : Minister of State for External Affairs V. Muraleedharan on Tuesday underlined the importance of diplomatic relations with Brazil, saying unprecedented economic transformation taking place in India opens up immense opportunities for bilateral cooperation for other countries.
"Today, our Strategic Partnership has deepened and substantive progress has been made in priority areas of Bio-energy, Oil and Natural Gas, Animal Husbandry, Healthcare, Defence, Space and Cyber Security. There has also been a rapid growth in bilateral trade and investment, with over 63 per cent increase in trade last year, making India the 5th largest trading partner of Brazil," MoS Muraleedharan said.
"The unprecedented economic transformation taking place in India opens up immense opportunities for bilateral cooperation and I am confident that our countries will soon reach the bilateral trade target of USD 15 billion," he added.
Muraleedharan is on an official visit to Brazil. This is his first-ever visit to Brazil and part of the high level exchanges between India and Brazil. During his visit, MoS attended the Solemn Session on 75 years of India's Independence in the Brazilian Parliament (Congresso Nacional).
During his speech, Muraleedharan said it gives him immense pleasure to take part in this Solemn Session on India's 75 years of Independence in one of the most respected democratic institutions of the world!
"It is a great honour for the 1.3 billion people of India and I carry with me to this House, their greetings and warm wishes of friendship. It is also a great privilege for me, to address this august gathering of leaders of the vibrant democracy of Brazil," he said.
"It is also a happy coincidence that Brazil is celebrating 200 years of Independence. On behalf of the Government and the people of India, I extend my best wishes to the people's representatives gathered here and to the people of Brazil on this momentous milestone in your history," he added.
MoS Muraleedharan said the India-Brazil 'Strategic Partnership' forged in 2006 continues to provide a solid framework to deepen our multifaceted ties and the creation of plurilateral forums such as IBSA, the G4 and BRICS have given a new meaning and brought greater dynamism to our relationship.
He also noted the increase in the number of Indian companies investing in Brazil and this year alone over USD 3 billion have been invested by Indian companies in Brazil. This marked surge in investment flows will only complement our already growing trade ties.
"India has made rapid advances in the field of renewable energy and is moving quickly towards a green future. As we strive to make India the world's green hydrogen hub, we look forward to collaboration with Brazil in our endeavour," the minister added.