India and Brazil : Bilateral Investment Treaty
Part of: GS International and GS-II – India’s Foreign relations
- India and Brazil will upgrade their strategic partnership with an “action plan” and sign a Bilateral Investment Treaty (BIT)
- Strategic Partnership Action Plan will serve as an “umbrella agreement”, for plans between the two countries to increase defence cooperation, technology sharing and a logistics agreement.
From Prelims Point of view:
Bilateral Investment Treaty (BIT)
- A bilateral investment treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in another state.
- In 2018 Indian investments in Brazil were around U.S.$ 6 billion and Brazilian investments in India are estimated at U.S.$ 1 billion.( Total 8 bn )