The Cabinet on Thursday approved signing of an investment cooperation and facilitation treaty between India and Brazil. The treaty will result in increase of investment flows between the two countries and provide facilitation to Brazilian investors in India and vice versa.
“The Union Cabinet chaired by PM Modi has given its approval for signing and ratification of the Investment Cooperation and Facilitation Treaty (ICFT) between India and Brazil,” an official statement said.
The signing of the treaty is likely to increase the comfort level and boost the confidence of investors by assuring a level-playing field and non-discrimination in all investment facilitation matters, thus providing conducive investment climate to investors. “It would help project India as a preferred Foreign Direct Investment (FDI) destination to all Brazilian investors,” the statement added.