At an interactive event organized by World Trade Center Mumbai and the All India Association of Industries, H.E. Mr. Gabriel Vieira de Souza, Vice Governor of Rio Grande do Sul, Brazil, extended an invitation to Indian companies and investors to participate in reconstruction and climate-resilient infrastructure projects. Rio Grande do Sul, Brazil’s 4th largest economy and a multicultural state, is undertaking significant efforts to recover from its worst floods in 80 years. With 95% of its cities affected, the state plans to invest $4 billion in rebuilding highways, ports, residential areas, and industrial infrastructure. Additionally, $5 billion is earmarked for public-private partnership projects in areas such as highways, airports, hospitals, and education.

Highlighting the state’s strengths, Mr. Souza described Rio Grande do Sul as Brazil’s innovation capital, ranking first in patent filings and home to 18 technology parks and over 1,300 active startups, including 80 agritech ventures. The capital, Porto Alegre, is among Latin America’s top emerging startup ecosystems. He emphasized the state’s leadership in green energy, especially green hydrogen, renewable energy, and its untapped 1,028 GW wind energy potential, inviting Indian companies to leverage these opportunities.

The Vice Governor also underscored the strategic location of Rio Grande do Sul, describing it as a gateway to Latin America and the Mercosur region. With 70% of Latin America’s GDP and 50 million inhabitants within 1,500 km of Porto Alegre, the state offers strong trade and industrial prospects. It ranks as Brazil’s 3rd most industrialized state with a robust high-tech sector and an extensive transport network, including the Port of Mercosur, a vital hub for South American trade.

Mr. Joao de Mendonca Lima Neto, Consul General of Brazil in Mumbai, highlighted the immense potential for Indo-Brazilian cooperation, noting India’s and Brazil’s positions as the 5th and 9th largest economies globally. Rio Grande do Sul contributes 6.5% to Brazil’s GDP, excelling in agriculture, industry, and infrastructure. The state’s advanced port and airport network strengthens its trade links with Latin America and beyond.

To foster bilateral ties, the Indo-Brazilian Chamber of Commerce signed an MoU with WTC Mumbai to enhance trade, investment, and technology cooperation. Dr. Vijay Kalantri, Chairman, WTC Mumbai, remarked that this collaboration marks a new phase in India-Brazil relations, aiming to double the current $12 billion bilateral trade volume. He emphasized diversifying trade into sectors such as automobiles, engineering, and textiles while exploring tourism and hospitality.

The event concluded with fruitful networking and discussions on expanding India’s $6 billion investment in Brazil and tripling Brazil’s $1 billion investment in India. Capt. Somesh Batra, Vice Chairman, WTC Mumbai, emphasized collaboration in tourism, culture, and entertainment to strengthen cultural ties.

The event highlighted a shared commitment to fostering economic, technological, and cultural partnerships between India and Brazil, with Rio Grande do Sul positioned as a key player in this endeavor.

In Photo: Ms. Rupa Naik, Executive Director, WTC Mumbai (3^rd from left) exchanging an MoU with Mr. Paulo Azevado, President, Indo-Brazilian Chamber of Commerce (4^th from left). Also seen in the photo are (From left to right): Mr. Joao de Mendonca Lima Neto, Consul General, Consulate General of Brazil; Ms. Aakruti Bagwe, Director – Operations, WTC Mumbai; Dr. Vijay Kalantri, Chairman, WTC Mumbai; H.E. Mr. Gabriel Vieira de Souza, Vice Governor of the Brazilian State of Rio Grande do Sul; Capt. Somesh Batra, Vice Chairman, WTC Mumbai and Ms. Sangeeta Jain, Senior Director, All India Association of Industries.