 "NDB should help sustain ecological businesses: Jose Rubens De La Rosa")
Jose Rubens De La Rosa, chairman of Brazilian chapter of BRICS Business Council and chief executive officer of Marcopolo, tells Subhayan Chakraborty that the New Development Bank can be used to address the environmental concerns of BRICS nations. Excerpts:
How can countries use the BRICS platform to leverage their responsibilities to the environment and towards reducing climate change?
Apart from other global obligations, the New Development Bank (established by BRICS nations) should help provide more loans to ecologically sustainable businesses as well as the renewable sector. Also, the damage to the environment should be counted as a cost when calculating the overall cost of business. This isn’t the case now and Brazilian companies are slowly getting there.
What’s your take on the proposal to conduct trade in Chinese yuan?
It is a complicated issue. Poorer nations such as Brazil and India should take into consideration all possible effects of such a decision before moving into it. For the time being, we should focus on other ways to boost trade.
In what ways can the trade ties between India and Brazil be boosted, as geography plays a big part in separating the nations?
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A greater push towards dedicated trade relations between nations will overcome any geographical difficulties. For more connectivity, there has to be more flights between the two countries. Currently, there are no direct ones.
India’s formal trade agreements with South American nations are picking up now. In this context, how feasible is the idea of a bilateral free trade agreement between Brazil and India?
Brazilian businesses will support any such agreement. There is huge opportunity in trade thanks to the economic complementarities between the two economies.
What are the sectors that Brazilian investors are keen on?
Interests are spread across the board. Pharmaceuticals is a major area with companies looking at states like Karnataka.