India-Brazil Bilateral Trade Soars

Chief Minister Yogi Adityanath, in a recent statement on Monday, highlighted the significant growth in bilateral trade between India and Brazil over the past two years. He revealed that India's exports to Brazil reached $4.5 billion during the 2022-23 financial year, while imports from Brazil to India surged to $7.14 billion.

CM Yogi also emphasized key areas of cooperation between the two nations, with a particular focus on agriculture, food processing, and animal husbandry. He noted that Brazil and India share similar genetic heritage in their cattle, and Indian breeds like Gir and Kankrej, which were exported centuries ago, have been enhanced to produce larger quantities of milk.

Yogi Adityanath's efforts to boost the dairy sector in the state received a significant boost as two Brazilian companies signed a Memorandum of Understanding (MoU) with Ananda Dairy in the presence of CM Yogi and the Ambassador of Brazil to India, Kenneth Nobrega. This MoU follows extensive discussions between the UP delegation and the Brazilian companies, Amireia Pajoara and BH Embriões, during a roadshow held in Brazil in December 2022, leading up to the Global Investors Summit (GIS) in 2023.

Referring to the GIS held in February 2023, where a delegation of senior UP officers had visited Brazil to conduct a roadshow and meet with representatives of these companies, CM Yogi highlighted the strong and friendly relations between India and Brazil. He noted the growing bilateral trade and comprehensive cooperation, underscoring the mutual understanding between the two countries.