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Drumbeat: Ad Buzzaar
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Sunday, June 14, 1998
JVs to strengthen Indo-Brazil ties
ENS ECONOMIC BUREAU
MUMBAI, June 13: The long-term relationship between India and Brazil has to be strengthened by setting up joint ventures and collaborations, said Ficci functionary CH Mirani. Addressing a Ficci meeting here, he identified areas for Indo-Bralizilian joint ventures such as bicycles, cars and auto parts, two-wheelers, semi-finished iron and steel products and software.Brazil ambassador HE Luiz Filipe De M Soares said that Brazil is back on the tracks and the government has initiated a new phase of privatisations. The country's social policies are bearing positive results and the government has committed to meet the needs of the people. The average annual direct investment in Brazil during 1990-94 was around $1 billion, which rose to $2.9 billion in 1995 and reached $9.2 bn in 1996. In 1993 and 1994, almost the entire flow was directed at the stock market. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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