Brazil seeks Indian investment

new delhi: brazil on friday sought indian investment saying the country is the second largest recepient of foreign direct investment (fdi) after china among developing countries. "india is a priority for us. there is much more scope in much more sectors for economic cooperation between brazil and india than i expected," brazil''s development, trade and industry minister sergio amaral said addressing a seminar on ''brazil-india opportunities for business'', organised by the confederation of indian industry (cii). brazil had been renovating infrastructure since the early 90s, he said adding that "infrastructure development is now in the second phase". "in accordance with our focus on infrastructure, 14 airports, four ports, four waterways and many road and energy networks are being developed. in fact, out of 14, construction of 12 airports have already been completed," amaral said. exhorting the indian telecom companies to invest in brazil, he said, "indian industrialists should invest in the telecom sector as the mobile phone growth rate in brazil is 80 per cent". amaral said last year was quite difficult for brazil''s power sector as the counrty faced a severe power shortage due to 90 per cent dependence on hydro electricity.