SDG 8: Decent Work and Economic Growth | SDG 17: Partnerships for the Goals
Institutions: Ministry of Commerce & Industry
The Ministry of Commerce & Industry reported that Union Minister Shri Piyush Goyal addressed the India–Brazil Business Dialogue, held on October 16, 2025, alongside Brazilian Vice President H.E. Mr. Geraldo Alckmin and Minister of Defense H.E. Mr. José Múcio Monteiro Filho. The dialogue, marking World Food Day, highlighted the shared agricultural strengths of India and Brazil as leading agri-producing nations contributing significantly to global food security, expressing optimism for greater collaboration in agri-business and food processing.
The Minister emphasized that India’s growth story, featuring a 7.8 percent GDP growth in the first quarter, rests on three strong pillars: robust macroeconomic fundamentals (including one of the world’s strongest foreign exchange reserve positions at USD 700 billion), taking modern infrastructure to the remotest corners, and improving the quality of life (through reduced income tax burden and simplified GST). These investments and structural reforms, praised by the IMF, are set to accelerate the nation’s journey towards becoming a developed nation and a USD 30–35 trillion economy by 2047.
The explicit identification of three pillars, particularly the focus on simplifying the GST system and infrastructure investment, codifies the government’s dual policy approach: strengthening financial stability while using trade partnerships and domestic reforms to drive inclusive growth and achieve the Viksit Bharat 2047 goal.
What are Robust Macroeconomic Fundamentals? → Robust Macroeconomic Fundamentals refer to the core elements of a country’s economy, such as low inflation, consistent GDP growth, strong financial health (like a fortified banking system), and substantial foreign exchange reserves. These conditions collectively provide stability and investor confidence, establishing the necessary threshold for the country to pursue ambitious growth targets and accelerate its overall development journey.
Relevant Question for Policy Stakeholders: What concrete steps are planned to integrate Brazilian agri-business technology into India’s supply chain to accelerate food processing and reduce post-harvest loss?
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