India and Brazil to sign Strategic Action Plan

India and Brazil will upgrade their strategic partnership with an “action plan” and sign a Bilateral Investment Treaty (BIT) when Brazilian President Jair Bolsonaro visits as the Chief Guest of the Republic Day celebrations from 24-27. The Strategic Partnership Action Plan will serve as an “umbrella agreement”, for plans between the two countries to increase defence cooperation, technology sharing and a logistics agreement.

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Brazil is the largest producer and exporter of sugar, and claims Indian subsidies are inconsistent with global trade rules. Brazil is among the top ten oil producers in the world. Major reforms are being undertaken in Brazil’s energy sector, which will help to increase not only production but also oil exports. A plan of action is expected to be inked during the visit to add meat to the strategic partnership.