Indian Prime Minister Manmohan Singh and Brazilian President Luiz Inacio Lula Da Silva began talks yesterday in New Delhi to enhance strategic and business ties between two of the world's largest emerging economies, officials said.
The leaders held discussions at Hyderabad House in the Indian capital to boost trade ties and cooperation on issues such as global trade, climate change, energy and expansion of the UN Security Council.
"With both countries now being part of the trillion-dollar-economy club, the talks would focus on promoting cooperation in trade and investment between the economic powerhouses," an Indian Foreign Ministry official said, requesting anonymity.
Quadrupling bilateral trade to US$10 billion by 2010 from the current US$2.41 billion a year and promoting Brazilian investment in India's infrastructure would be the thrust areas of Lula's economic diplomacy in India.
The new economic synergy is being worked out with the launch of an India-Brazil CEOs forum. The aim of the forum is to identify business opportunities and areas of investment.
A number of agreements to improve economic, energy and cultural cooperation are expected to be signed after the talks between Singh and Lula, local news outlets reported.
The IANS?news agency reported that the Indian side is likely to seek the support of Brazil, a member of the 45-nation Nuclear Suppliers Group (NSG) for civil nuclear cooperation.
Last year, during Singh's visit to Brasilia, Lula acknowledged India's growing need for energy, but hinted that Brazil would take a stand in the NSG only after the India and US finalize their civil nuclear agreement.
The talks in New Delhi assume significance as they come ahead of the G8 summit in Germany, where India and Brazil will participate as outreach partners.
India and Brazil were expected to firm up cooperation on global issues including climate change and multilateral trade talks, which are on the G8 agenda.
Singh and Lula will also discuss the efforts by the?G4 group -- comprising of Germany, Japan, Brazil and India.
Lula, heading a 100-member strong delegation comprising top business leaders, ministers and officials, arrived for a three-day India visit on Sunday.
He is to leave for Morocco today for a two-day visit.
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