Petrobras, which rose to become the fourth largest company in the world, is now battling a serious corruption scandal that has left its reputation in tatters. How did this global oil major scale such heights spectacularly and and then fall so low? There are lessons in this for India’s public sector oil companies.
Former Distinguished Fellow, India-Latin America
R. Viswanathan is the former Indian Ambassador to Argentina, Uruguay and Paraguay (2007-2012). He was earlier the Ambassador to Venezuela and served as the first Consul General of India in Sao Paulo, Brazil. He has headed the Ministry of External Affairs’ division on Latin America and the Caribbean, as well as its Investment and Trade Promotion Division. He has specialised in Latin America since 1996 and has been a regular contributor to newspapers and business journals, besides giving lectures on the subject at think tanks and universities across India, Latin America and the United States. He speaks Spanish and Portuguese. A self-confessed Latinophile, Ambassador Viswanathan is an avid reader of Latin American literature and admirer of Latino culture. He is fluent in Tamil, Spanish, English, Portuguese and Portuñol.
Engagement of India with Latin American countries
Last modified: June 17, 2015
The Pacific Alliance—Mexico, Colombia, Peru and Chile—is one of the newest and most vibrant regional groupings in Latin American. Apart from the liberal foreign trade policies of these countries, they also have higher growth and lower inflation rates than their neighbours. India’s trade with the grouping has been growing, and as an observer member of the bloc, there is scope for much deeper engagement.
China's influence and presence in Latin America has grown rapidly in the form of trade and investment. China's growing presence is both a concern for Latin America and the U.S., which creates a window of opportunity for India
The 'Make In India' campaign could learn from the manufacturing success story of Mexico which has come to be called as a 'rising global star in manufacturing’ and 'the China of the Americas'. Prime Minister Modi can seek inspiration from President Enrique Peña Nieto who has brought about a dozen major reforms by forging a historic consensus with the opposition parties through the Pact for Mexico.
The 14 March protests is the latest in a series against corruption in Brazil. While the government is acting, the political and economic environment will continue to deteriorate until it is rooted out.
Mexican director Alejendra Inarritu’s Oscar for his work on Birdman comes after his compatriot won the same category award in 2014. This is a matter of pride for the Mexican film industry which is undergoing a renaissance in the last fifteen years. Although Indian cinema dwarfs the Mexican film industry, Mexico’s success in Hollywood should hold as inspiration for Bollywood
Embraer started as a Brazilian public sector firm, and has debunked the fiction of the developed world being the source of high tech products for the less developed. Its success can be an inspiration for 'Make in India' aircrafts by Hindustan Aeronautics Limited
The nature of the sweeping victory of AAP and Kejriwal may be unprecedented in India but not in Latin America. In Brazil, Mexico and Colombia, there are lessons for AAP and Arvind Kejriwal as they assume power in New Delhi – and also for the Congress Party as well as the BJP
Even though the India-Latin America relationship is yet to realise its potential, there are unique initiatives bridging this gap. The landmark office of Tata Consultancy Services in Chennai, hailed for its energy efficiency, has been designed by two Uruguayan architects—an effort which represents the growing synergy
Michael Reid's book argues that Brazil, a nation that was built by a top-down elite, is now moving to a new phase of a bottom-up approach to political and economic reform