India and Brazil signed a social security agreement on 16 March 2017 in Brazil's capital Brasilia, exempting detached workers of the two countries from making social security contribution in either country, as long as they were making such contributions in their own respective nations.
The text was signed between the Indian delegation led by Joint Secretary of the External Affairs Ministry, K Nagaraj Naidu and Brazilian delegation led by Benedito A Brunca, Secretary, Ministry of Finance, Government of Brazil. The same was confirmed through a statement from the Ministry of External Affairs.
• The agreement will come into force in the first half of 2018. It will have a positive impact on the profitability and competitive position of companies of both India and Brazil that are operating in either’s territory.
• The agreement will also help promote more investment flow between the two countries.
• Once the text comes into force, it will be the first such agreement between the BRICS nations.