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India Unleashed: Brazil

The 70th anniversary of diplomatic relations between Brazil and India, which began with installation of the Brazilian embassy in New Delhi in the following year of India independence, is celebrated in 2018. The similarities of both countries may be a good perspective to explain the critical value of such partnership to Brazil, which has grown stronger through so many different times and contexts.

On April 12, 2017, the Brazilian Central Bank cut the SELIC benchmark interest rate by 1% as inflation for the twelve months ended March 2017 slowed to 4.57% from a high of 10.71% for the twelve month period ended January 2016. Although GDP declined by almost 3.5% in 2016 over the prior year, foreign direct investment into Brazil increased by 6 per cent over the same period to 78.9 billion dollars. Anectodal evidence suggests that M&A activity has increased in Brazil as Brazil`s third largest airline Azul successfully sold 645 million dollars of shares in an initial public offering listing its shares on the New York Stock Exchange and the Sao Paulo BM&F Bovespa.

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