Brazil looking at Infrastructure and IT for joint ventures

BANGLORE: Brazilian companies are looking for joint venture with Indian companies in infrastructure and IT sectors, a top official representing the industry of the south American country said. "We are interested in infrastructure and IT in a big way for joint collaboration with India," National Confederation of Industry (CNI), Brazil, president Armando Monteiro said.

Three Brazilian infrastructure majors have already visited India to do the "basic ground work", he said during an interaction organised by the Confederation of Indian Industry (CII).

The other sectors that Brazil is looking at for knowledge sharing and collaboration are, Ethanol initiative in biofuels, food processing and transport equipment, Neto said.

Brazil with its low inflation (3-4 per cent) and low interest rates, now offers a conducive atmosphere for investments. High inflation rate earlier was a major challenge before the Brazilian government, he pointed out.