Rio Grande do Sul invites Indian investors for Reconstruction Plan, says H.E. Mr. Gabriel Vieira de Souza

Brazil’s Innovation Capital seeks Indian partnership in green energy and infrastructure

“We are keen to invite Indian companies and investors for reconstruction and climate resilient infrastructure projects in Rio Grande do Sul, which is Brazil's 4th largest economy, 6th most populous and multicultural state with a strategic location and skilled workforce. It is a great opportunity for Indian companies to participate in our Rio Grande Plan for Climate Planning, Reconstruction and Adaptation as we are recovering from the worst floods in 80 years. We want to rebuild our highways, ports, residential areas and industrial infrastructure as 95% of our cities are affected. Our state government will alone invest USD 4 billion on reconstruction projects. Our state is a leader in privatisation and we rank number 3rd in Brazil in number of state concessions for highways, airports, hospitals, education, transport and other infrastructure. We have a pipeline of concessions and public partnership projects with minimum investment of USD 5 billion in these projects,” said H.E. Mr. Gabriel Vieira de Souza, Vice Governor of the Brazilian State of Rio Grande do Sul at an interactive meeting at WTC Mumbai. The event was jointly organised by All India Association of Industries and WTC Mumbai.

The Vice Governor further added, “Rio Grande do Sul is the innovation capital of Brazil as it ranks number one in patent filing as per CLP Ranking. The state has 18 technology parks with two of the best parks in Brazil. The state has 1300 active startups, of which 80 are agritech startups (2023). Porto Alegre, the capital city, is among the top 5 most promising emerging ecosystems for startups in Latin America.”

The Vice Governor invited Indian industry to partner with his government in green energy, green hydrogen and other emerging sectors. He said, “We are leading Brazil’s initiatives in green hydrogen and renewable energy as we are committed to decarbonisation and signatory to Race to Zero, Race to Resilience 2050. We invite Indian companies to explore business opportunities in agriculture value chain, petrochemicals, forestry, engineering, healthcare and other sectors. Out state is also competitive in green hydrogen and renewable energy. I invite Indian companies to harness 1028 GW of wind energy potential in our state, of which 5% is utilised.”

H.E. Mr. Gabriel de Souza invited Indian companies to make Rio Grande do Sul as the gateway to the Latin America and the Mercosur region. He said, “50 million inhabitants and 70% of Latin America’s GDP is within 1,500 km of the capital Porto Alegre. The state has the 5th highest number of highly qualified formal workers. It is Brazil’s 3rd most industrialised state with 2nd highest share of high-tech industries and the state with largest number of airports and regional connections. Our state has Port of Mercosur, one of the most important ports in South America for large ships.”

Mr. Joao de Mendonca Lima Neto, Consul General, Consulate General of Brazil pointed out, ”There is enormous potential for bilateral cooperation as India is the world’s 5th largest economy and Brazil is the 9th largest economy. The first two years of my tenure have been rather quiet. But this year, I have been overwhelmed by the number of official and business visits from Brazil to India. The visit of Vice Governor of Rio Grande do Sul to Mumbai highlights the importance his government places in promoting trade and investment with India. Rio Grande do Sul is one of the most prosperous states in Brazil with 6.5% share in the country’s GDP. It is a state that excels in agriculture, industry, infrastructure, education and health. With advanced network of airports and ports, the state has substantive trade links with Latin America and the world in general.”

Earlier in his welcome remarks, Dr. Vijay Kalantri, President, All India Association of Industries (AIAI) and Chairman, WTC Mumbai pointed out, “This is the beginning of a new phase in India-Brazil relations as we have signed MoU with the Indo-Brazil Chamber for deepening our trade, investment and technology cooperation. AIAI and WTC Mumbai have been promoting bilateral relations ever since Mr. Anil Kadakia was Honorary Consul of Brazil in Mumbai. I am sure we can work together to double the current bilateral trade volume of USD 12 billion through exchange of delegations and market intelligence.”

Dr. Kalantri informed that we need to diversify our trade in sectors such as automobile, engineering and textile as the current trade basket is largely concentrated in fuel, sugar and soya bean. Tourism and hospitality are other emerging sectors for bilateral trade and investment, Dr. Kalantri informed. He raised confidence India will double its current investment of USD 6 billion in Brazil and Brazil can triple its current investment of USD 1 billion in India in the next few years.

During the event, Indo-Brazilian Chamber of Commerce signed an MoU with World Trade Center Mumbai and All India Association of Industries (AIAI) to work jointly for promoting trade, investment, technology cooperation between India & Brazil through exchange of business delegation and other trade facilitation measures.

Capt. Somesh Batra, Vice Chairman, WTC Mumbai proposed vote of thanks for the event. Capt. Batra suggested India and Brazil to partner in tourism, culture and entertainment sectors to know each other’s culture and strengthen people to people ties.

The event generate fruitful networking between Indian industry and the government officials from the State of Rio Grande do Sul.

In his remarks, Mr. Paulo Azevado, President, Indo-Brazilian Chamber of Commerce pointed out, “I am optimistic about India-Brazil economic relations going forward. Our chamber is going to inaugurate Mumbai office early next year and we will also expand our network to Surat, Bengaluru and other Indian cities in future.”

Dr. Vijay Kalantri, President- All India Association of Industries (AIAI) and Chairman, WTC Mumbai signing MoU with Mr. Paulo Azevado, President, Indo-Brazilian Chamber of Commerce

Dr. Vijay Kalantri, President- All India Association of Industries (AIAI) and Chairman, WTC Mumbai (left) being felicitated by H.E. Mr. Gabriel Vieira de Souza, Vice Governor of the Brazilian State of Rio Grande do Sul at an interactive meeting at WTC Mumbai. Also seen in the photograph is Capt. Somesh Batra, Vice Chairman, WTC Mumbai.