The recent decision of Brazil's lower house of parliament to impeach President Rousseff has once again brought attention to the country's struggles with corruption. The crisis has already affected Brazil’s economy. Its impact on the region and on Indian businesses in the country is yet to be seen.
Ambassador Deepak Bhojwani
Former Indian Ambassador
Ambassador Deepak Bhojwani joined the Indian Foreign Service (IFS) in 1978. Since then, he has served in three Continents- Asia, Europe and South America - as well as the Ministry of External Affairs located in New Delhi. During his career, he was accredited as Ambassador in seven Latin American countries, being resident Ambassador in Colombia, Venezuela and Cuba, and was Consul General in Sao Paulo, accredited to five southern States of Brazil. He has specialized in analyzing the potential for commercial and economic exchange between Latin America and India, identifying complementarities, cultural peculiarities, and has acquired experience and contacts in several countries where he has worked. His fundamental interest lies in serving as a catalyst to identify and generate opportunities for investment and economic exchanges between India and Latin America. Disclaimer: External experts are not affiliated with Gateway House and have been presented here for reference only.
bilateral trade, diplomacy, economics, Latin America
Last modified: August 9, 2017
Despite major political change in Brazil, Argentina, and Venezuela due to global economic tumult, it may be premature to speak of a rightward shift in Latin American politics. Yet, developments in these democracies need to be monitored carefully as India has a stake in their political stability.
As India looks to diversify its sources for energy imports and grapples with food security issues, it is looking more towards Latin America. Gateway House interviews Ambassador Deepak Bhojwani to discuss India’s prospects with this increasingly significant region.
Although India’s trade with Latin America has increased considerably, there is still much potential to be exploited. India’s should adopt an aggressive market oriented strategy by identifying local partners wherever possible to enable Indian companies to penetrate the region.
Latin America is witnessing an exponential rise in regional integration of business houses. The resource-rich nature of most Latin American economies has led to an inward concentration of investment, which makes it an extremely interesting prospect for Indian investors.