The IBSA forum is very important from India’s point of view. Both Brazil and South Africa are important for India, economically and strategically.
India has a bilateral trade of around US$ 4.5 billion with South Africa and it is about $2.5 billion with Brazil. Indian companies are acquiring presence in Brazil and South Africa.
Member countries agreed that diversification of India’s foreign policy is extremely important. It is very much in India’s interest to give priority to a forum like IBSA.
As an emerging global power, India must understand other countries. India should deal not only with the big powers but also with other regional powers and explore opportunities in every region. For that, India needs to initiate andjoin such groupings significantly.
