Team Blitz India
NEW DELHI: India and Brazil are looking at an aspirational target of increasing the two-way trade by over three-fold to $50 billion by 2030, Commerce Secretary Sunil Barthwal said on October 13.
Barthwal was in Brasilia from October 1 to 4 to discuss ways to promote trade between the two countries. He chaired the sixth meeting of the India-Brazil Trade Monitoring Mechanism (TMM).
At present, the bilateral trade stands at $15.2 billion.
“We are looking at $30 billion in the next 3-4 years and by 2030, we are looking at an aspirational target of $50 billion. There is a huge potential for trade growth,” he told reporters here.
He added that during his visit, the two sides also discussed market access issues as well as new areas of cooperation.
Two working groups have been formed – market access issues and sectors of cooperation.