India, Brazil likely to sign pharma, minerals and aviation pacts during Lula visit

Officials are finalising a set of India–Brazil agreements expected to be signed during Brazilian President Luiz Inacio Lula da Silva’s official visit to India next week, with the proposed pacts likely to boost pharmaceutical exports, strengthen cooperation in critical minerals and support the civil aviation sector, according to an ET report.The visit is scheduled from February 18 to 22. Brazil is also planning to expand people-to-people ties by introducing a 10-year multiple-entry visa system for Indian tourists, Brazil’s envoy to India, Kenneth H da Nobrega, told ET ahead of the visit.The envoy also indicated that Brazil is moving towards easing business visa norms for Indian professionals amid rising bilateral trade and investment flows.Nobrega told ET that a memorandum of understanding (MoU) in the health sector is expected to be mutually beneficial for both countries.Brazil’s public healthcare system requires large volumes of medicines, he said, adding that Indian pharmaceutical exporters are well positioned to cater to the demand due to their competitive pricing advantage.Brazil is expanding its critical minerals sector, and an MoU in this area is also expected, the envoy said, as per ET.India is looking at the vast mineral reserves available across the Latin American continent as part of its resource security strategy.The envoy said another MoU between the Adani Group and Brazilian aerospace major Embraer is expected to be signed during the visit, according to the ET report.Adani Defence & Aerospace and Embraer had signed an MoU last month to set up a manufacturing facility in India for regional transport aircraft.