India to hold Mercosur software congress in 2004
Bnamericas Published: Monday, November 10, 2003
Brazil's Santa Catarina state will host the first ever Indian software trade fair in Latin America in February, as that nation seeks to boost its business in the Mercosur free trade area, the chairman of India's Federation of Indian Export Organisations, Vivek Singhal, told reporters. To date India and Brazil have formed ten software joint ventures, and already nearly thirty Indian software companies do business in Brazil, Singhal said. India exports annually near US$10bn in software, and aims to reach US$50bn by 2008. The software drive is part of a broader goal to expand trade with Brazil to US$5bn by 2008, up from US$1.5bn today. India's Sao Paulo consul general Yogeshwar Varma cited a report by Goldman Sachs which says the economies of China, India, Brazil and Russia could surpass the G-6 economic group - the US, the UK, France, Italy, Germany and Japan - in terms of economic output by 2025.
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