South American nation Brazil, is increasingly making a mark in the global Information Technology (IT) industry. With a rapidly growing economy, a large and diverse talent pool, and supportive Government policies, Brazil is emerging as a key player in the digital world. The country’s IT industry has been experiencing steady growth, fuelled by an increasing demand for tech services and solutions across various sectors.
As reported previously by Financial Express Online, the Electronics and Computer Software Export Promotion Council (ESC) has organized an ICT delegation to Brazil & Paraguay from March 4th to 8th, 2024. This initiative aims to further India’s bilateral economic cooperation in the electronics and ICT sector.
Update from Brazil
The visiting 15-member Indian delegation, with varied expertise in IT, had excellent business meetings with the Brazilian industry, who looked very keen to strike meaningful business ventures. The B2B session saw participation from around 85 Brazilian participants. This initiative, supported by the India-Brazil Chamber of Commerce, Fecomercio- Goais, Invest SP, and AbFintechs, will lead to augmenting India’s bilateral trade with Brazil, particularly in the electronics hardware and IT sector, says Mr. Sandeep Narula, Chairman, ESC.
Speaking at the event, the Consul General of India, Ms Manisha Swami, underlined the importance of the event in augmenting bilateral trade and business collaboration. She highlighted that both India and Brazil are considered emerging economies with significant growth potential. The Council signed a MoU with the Federation of Commerce, Services of the State of Goias, Brazil, to further the electronics and IT trade between the two countries in the times to follow.
In addition, meetings with several associations from Brazil, including ABERIMEST (Brazilian Association of Business and Telecommunications Professionals), ECIEX (Brazilian Business Council of Commercial Importers & Exporters) / (wing of Sao Paulo Chamber of Commerce), have been lined up to discuss and explore increasing business linkages between the two countries, says Mr. Gurmeet Singh, Executive Director, ESC.
The initiative of the Council also resulted in creating awareness amongst the Brazilian industry to visit India at the silver jubilee edition of INDIASOFT 2025 (International IT Exhibition & Conferences) scheduled from March 19 to 21 at New Delhi. Today, INDIASOFT has emerged as one of the renowned expos in the world for business linkages.
Latin America, and particularly Brazil, presents a wealth of opportunities for Indian companies across various sectors. Brazil, with its rapidly growing economy and supportive government policies, is an important market for Indian ICT players and offers enormous opportunities. The country’s IT industry is witnessing significant growth in several key areas, including software development, digital services, cybersecurity, and cloud computing services. The private sector in Brazil is actively looking at Indian companies for partnerships, particularly for joint ventures for manufacturing and technology transfer.
The upcoming G20 Summit, scheduled to take place in Rio de Janeiro, Brazil, presents a unique opportunity for Indian companies. The summit will bring together the leaders of the 19 member countries, alongside the African Union and the European Union. This event provides a global platform for dialogue and negotiation, which could lead to increased opportunities for Indian companies in Brazil and other participating countries.
In conclusion, the combination of a growing IT industry, supportive government policies, and the upcoming G20 Summit make Brazil an attractive destination for Indian companies looking to expand their global footprint.
“It’s an exciting time for Indian companies to explore these opportunities and establish a strong presence in Latin America and Brazil. The present initiative by the Electronics and Computer Software Export Promotion Council will create synergies of growth for both the sides,” added Gurmeet Singh, ED, ESC India.