Republic Day 2020: Brazil President to be the chief guest this year, Important Deets inside!

Republic Day 2020 chief guest

Brazil opposed India’s “Operation Vijay” damaging relations between India and Brazil

Republic Day 2020 chief guest: Brazilian President Jair Bolsonaro will be visiting India as Chief Guest at the 71st Republic Day celebrations on January 26. He will become the third head of state from Brazil to visit India as Chief Guest. Former Presidents Fernando Henrique Cardoso was Chief Guest in 1996 and President Luiz Inacio Lula da Silva had visited in 2004.

India and Brazil share important bilateral relations today. They both are the member of BRICS, BASIC, G-4, G-20, IBSA, Biofuture Platform and International Solar Alliance.

History of Relation between India and Brazil

Under the Portuguese colonial rule, Goa and Brazil used to exchange goods. India used to send coconut and mango crops to Brazil, and Brazil used to send cashew to India. Indian cattle Breeds were also exported to Brazil.

Modern-day diplomatic ties between India and Brazil were established in 1948 after India’s independence from British rule.

Brazil opposed India’s “Operation Vijay” that liberated Goa from Portuguese rule in 1961. Since then,  Indo- Brazil relations didn’t flourish for decades.

In the 1990s, both India and Brazil undertook economic reforms, following which, the trade relations between the two countries got renewed. Diplomatic visits subsequently picked up pace since the 2000s.

Prime Minister Narendra Modi has visited Brazil twice in 2014 and 2019. Former Prime Minister Manmohan Singh had visited Brazil in 2006, 2010,  and 2012. President of Brazil Michel Temer had a diplomatic visit in India in 2016. President Dilma Rousseff visited India in March 2012.

Read more: Why losing the BCCI contract is not the end of MS Dhoni?

Trade relation between India and Brazil

Bilateral trade between India and Brazil reduced to $5.64 billion in 2016 from $7.6 billion in 2015 after an economic recession locally. Brazilian’s economy recovered to an extent that, the figure rose to $7.57 billion in 2018. That year, the exports and imports between Brazil and India stood at $3.66 billion and $3.91 billion respectively with Brazil having a trade surplus of $0.246 billion. In 2018, India was the 11th biggest exporter to Brazil and the 10th biggest importer from the country.

Brazilian companies have invested in automobiles, IT, biofuels, mining, energy, and footwear in India. Indian companies have invested in IT, energy, pharmaceuticals, engineering, mining, agri-business, and automobiles in Brazil which are estimated at $8 billion.

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