Trade target of $15 billion by 2015 is set by India-Brazil

                   India is seeking loads of investment from the Latin American Country Brazil, mainly in the infrastructure sector for which it arguably needs $1 trillion over the next five years, as the said two countries set bilateral trade target of mere $15 billion by the year of 2015.

                    Eventually both the countries can be able to operate together in the various sectors like agriculture, textiles, IT, infrastructure and pharmaceuticals. Currently the bilateral trade is set at $10 billion. Both the nations have agreed to fix the target of $15 billion by the year of 2015.

                    For the last two years or so the Indian government is taking several necessary steps to increase the share of important manufacturing sector in the GDP to at least 25% by the year of 2020, which is only 16% at the present. For this, a new National Manufacturing Policy (NMP) was announced quite recently, which mainly envisages setting up of NMIZs.

                     There will be loads of mega industrial zones with world class supporting infrastructure. The government is also offering a host of incentives and a liberalized labor and environment norms to promote these zones hugely.

                      These types of move are hugely needed by India, as it is suffering a marginal economic growth, and it still needs lots of improvements to be considered as a developed nation worldwide.