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Bilaterally & multilaterally, partnership between India & Brazil is filled with possibilities that we are keen to harvest: PM Modi

Published By : Admin | October 17, 2016 | 13:03 IST
Brazil and India are natural partners linked by common values of democracy: PM Modi
Bilateral relations between India & Brazil have grown for the better. We have increased interaction at all levels: PM
Happy to note that India and Brazil have finalized the text of a bilateral investment agreement: PM
I welcome Brazilian companies to come and invest in India and to forge long term commercial partnerships: PM Modi
We deeply appreciate Brazil's support for India’s actions in combating terrorism: PM Narendra Modi

Your Excellency President Michel Temer, Members of the media, Friends,

I am honored to welcome President Michel Temer to India.I am delighted that Goa with its common cultural Portuguese heritage is part of his maiden visit to India. Though separated by geography, Brazil and India are natural partners linked by common values of democracy, rule of law and shared aspirations for development, peace and prosperity. President Temer as a foremost constitutional expert understands and appreciates this well. This visit takes place as both countries mark a decade of our strategic partnership. The world has changed in these ten years. The bilateral relations between India and Brazil have grown for the better. We have increased interaction at all levels. We are also joined together in shaping the international context to support our common pursuits and endeavors. I warmly recall my visit to Brazil in 2014. It was the first country I visited outside Asia after assuming office. I felt the full warmth of our friends in Brazil towards India. Excellency, India is the first country you have chosen for a bilateral visit outside Latin America since assuming your important new responsibility. Your visit reflects the importance we attach to our bilateral relationship. This was evident in our productive discussions this morning.

Friends,

President Temer and I have reviewed the full range of bilateral cooperation. Noting the potential for much more, we have agreed to scale up our engagement. This is in line with our mutual desire for a reinforced strategic partnership. Brazil is among our most important economic partners in Latin America. I am happy to note that India and Brazil have finalized the text of a bilateral investment agreement. It will provide much needed momentum to increased bilateral business and investment linkages. We have taken note of the priority that President Temer attaches to reviving the domestic economic agenda in Brazil. In this, India can be a valuable partner. I welcome Brazilian companies to come and invest in India and to forge long term commercial partnerships. President Temer and I have just met with our CEOs to hear from them first hand.I am encouraged at the steps they are taking to advance pragmatic collaboration.

We will fully support this.

I have sought President Temer's support in facilitating greater market access and investment opportunities for Indian products and companies. I am thankful for President Temer's positive consideration. We have also made progress in opening new areas of cooperation during this visit in drug regulation, agricultural research and on cyber security issues. President Temer and I also agreed to intensify and strengthen our coordination in important international fora. There is much that is common in our approach and positions. We will work closely at the United Nations, the G-20, G-4, WTO, BRICS, IBSA and other important platforms.

Excellency,

We deeply appreciate Brazil's support for India’s actions in combating terrorism. We agreed that the world must come together to fight this menace without distinction or discrimination.We will continue to work with Brazil as an important partner in early adoption of the Comprehensive Convention Against International Terrorism (CCIT) at the United Nations. We thank Brazil for understanding India's aspiration for membership of the Nuclear Suppliers' Group.

Excellency and Friends,

Both bilaterally and multilaterally, the partnership between India and Brazil is filled with possibilities that we are keen to harvest. President Temer's visit provides an important occasion to work on a roadmap to achieve this. As they say in Portuguese "A uniao faz a forca" – 'our union makes us stronger'.

Thank you.

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PM to disburse incentives worth around ₹2,400 crore under PM-VBRY on 19 June
June 17, 2026
First-Time Employees to Receive Incentive of up to ₹15,000
To encourage sustained job creation, Employers eligible for Incentive of up to ₹3,000 per Month per Additional Employee
PM-VBRY is designed to facilitate Job Creation, Formalisation of Employment and Expansion of Social Security Coverage
Scheme has already Facilitated Employment for 15 Lakh Beneficiaries Across the Country

Prime Minister Shri Narendra Modi will disburse incentives worth around ₹2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) at a special programme to be held on 19 June 2026 at 5 PM at Vigyan Bhawan, New Delhi.

The disbursal marks a significant milestone in the implementation of PM-VBRY, the Government of India’s flagship employment-linked incentive scheme aimed at accelerating job creation, promoting formalisation of employment, enhancing employability, and expanding social security coverage across sectors. The scheme has already supported the creation of 15 lakh employment opportunities across the country.

PM-VBRY is designed to encourage both workers and employers to participate in the formal economy. Under the scheme, first-time employees are eligible for an incentive of up to ₹15,000, providing crucial support as they enter the workforce. Employers generating additional employment are eligible for incentives of up to ₹3,000 per month per additional employee, thereby encouraging sustained job creation. Recognising the strategic importance of manufacturing in driving economic growth, employers in the manufacturing sector are eligible to receive incentives for a period of four years, while employers in all other sectors can avail incentives for two years.

The scheme reflects the Government’s commitment to fostering an enabling ecosystem for employment-led growth and ensuring that the benefits of India’s economic progress translate into quality formal employment opportunities for its youth.

PM-VBRY came into effect on 1 August 2025. With a total outlay of ₹99,446 crore, the scheme aims to incentivise the creation of more than 3.5 crore jobs over a two-year period. Of these, approximately 1.92 crore beneficiaries are expected to be first-time entrants into the workforce. By supporting both employees and employers, the scheme is playing a transformative role in expanding formal employment, strengthening social security coverage, and advancing the vision of a Viksit Bharat.