INDO - BRAZILIAN TRADE: TRENDS, COMPOSITION AND FUTURE

India and Brazil are among the fastest growing economies of the world and are widely projected as major economies of future. Indo-Brazil links go back five centuries. In recent years, relations between Brazil and India have grown considerably and co-operation between the two countries has been extended to diverse areas such as science and technology, pharmaceuticals and space. Bilateral trade has jumped to USD 3.12 billion in 2007, from a mere USD 488 million in 2000. The two sides have set a target of USD 10 billion trade by 2010. Though it will be a small fraction of trade of each country and with the existing trends it may be a challenging target to achieve. Due to large size of economies and high growth rates as well as growing political will from both sides, the bilateral trade will grow further and would have significant impact on global trade and economy