September 9, 2024
The move comes as Brazil prepares to host the G-20 summit, reflecting a strategic effort to enhance global economic partnerships.
LIDE plans a four-day conference in August 2025 in India, with participation from 150 businesses across Brazil, Latin America, and 20 other countries
The organisation aims to connect Brazilian and Indian entrepreneurs, particularly in sectors like agriculture, aerospace, defence, technology, and tourism
LIDE’s focus also includes expanding trade in minerals, oil and gas, pharmaceuticals, and sustainable industries
LIDE, a prominent business leaders’ organisation based in Sao Paulo, Brazil, has announced the opening of its India office in Mumbai to enhance bilateral trade between India and Latin American countries, particularly Brazil. The launch comes at a time when Brazil is preparing to host the G-20 summit, highlighting the country’s efforts to strengthen its global economic connections.
LIDE, which describes itself as the largest and foremost business leaders’ organisation in Latin America, has been building a global network that promotes free enterprise, innovation, and economic growth. With international offices in over 20 countries, the organisation focuses on 34 sectors, ranging from agriculture to technology.
As a testament to its commitment to the Indian market, LIDE will organise a four-day conference in India in August 2025. The event will feature 150 major business enterprises from Brazil, Latin America, and 20 other countries, fostering new partnerships and growth opportunities.
Joao Doria, Co-Chairman of LIDE, stated that their primary objective is to enhance the economic relationship between Brazil and India, particularly by more deeply involving the private sector. He expressed confidence that connecting Brazilian and Indian entrepreneurs would lead to new business opportunities in areas such as agriculture, aerospace, defence, security, and technology. Additionally, LIDE will focus on sectors like minerals, oil and gas, pharmaceuticals, sustainability, and tourism.
Doria also highlighted the untapped potential in tourism, noting that while Brazil is a leading source of outbound tourism to the United States and Europe, this is not the case for India. He believes there is significant potential to increase tourism between the two countries, which could lead to closer economic ties and expanded business opportunities.
Discussing the current state of bilateral trade, Joao Doria Neto, President of LIDE, mentioned that while trade between India and Brazil is estimated at US$20 billion, it can grow considerably. Brazil’s exports to India, valued at US$11 billion, primarily consist of crude oil, sugar cane, soy, and soybean oil. India’s exports to Brazil, totalling US$9 billion, include pharmaceuticals, refined petroleum products, software, and technology products.
Doria noted that Brazilian companies rely heavily on China for imports and Russia for fertilisers. He sees an opportunity for Brazilian businesses to benefit from the competitive products and services offered by Indian companies, which could strengthen the bilateral trade relationship and reduce dependence on other markets.
Source: The Hindu