Inclusive growth model for India and Brazil

Inclusive growth model for India and Brazil

New Delhi: Economic growth in India and Brazil should be based on social inclusion, said Roberto Mangabeira Unger, minister for strategic planning, Brazil at a session on ‘India and Brazil’, organized by CII.

Brazil is constructing an alternative model of development that can help build a collaborative relationship with India.

According to the minister, “these alternatives do not suppress opportunities for entrepreneurs but create new opportunities. Ideas about economic growth and social securities in India and Brazil presently exclude a majority of people".

Developing countries should be able to provide enlightened technocracy to its people and at the same time constitutional and electoral policies should be flexible and the government should be able to provide a complete package of rights.

Developing countries like India and Brazil need a productivist’ strategy that would change the balance between the innovative, capital and skill-rich, “vanguard" segments of the economy, and its routine, low-skill, subordinate “rearguard" branches.

Jose Vivento De Sa Pimental, Ambassador of Brazil to India said that Indo – Brazil relations are set to grow exponentially in the next few years. Both countries should focus on new ideas to improve trade relationships.

South-South cooperation will add to the momentum, said Ravi Thapar, joint secretary – LAC, ministry of external affairs

On the occasion, the Second India-Latin America and Caribbean Conclave 2007 was also announced. This would bring together business participants from India, Latin America and the Caribbean region, to discuss business opportunities and joint projects for both trade and investment.