Brazil to participate in infrastructure projects in India
Press Trust of India
Mumbai, November 17, 2005
Brazil said on Thursday that it was looking to invest in newer areas, including infrastructure and energy sector, in India.
"Brazil and India have long relationship in agricultural sector. Now, India is looking for international players to participate in development of infrastructure and energy sectors, we are interested," said Brazilian Ambassador Jose Vicente Pimentel at a function.
India has allowed 100 per cent foreign investment in construction sector. Besides this, the government would also be providing counter guarantee for returns to few of the infrastructure projects.
"Many Brazilian heavy construction companies are looking forward to participate in infrastructure projects in the country. Two leading companies have already begun their operations in New Delhi and many companies are studying the feasibility survey reports for potential of this opportunity," President of Brazil-India Economic Development Agency Guilherme Lacombe said.
Brazil also invited Indian companies to invest in fields like agricultural businesses, IT and automobiles in its country.
Pimentel said, "There is tremendous scope for both countries to enhance their relationship by concentrating on heavy constructions, energy, agriculture and science and technology."
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