India and Brazil are aiming big. After high-level talks in New Delhi, the two countries agreed to double bilateral trade to $30 billion by 2030 and signed key agreements on critical minerals, steel supply chains and digital cooperation.
The meeting focused on expanding economic ties and enhancing strategic cooperation
New Delhi: India and Brazil have set an ambitious goal to double their bilateral trade to $30 billion by 2030, while signing new agreements to strengthen cooperation in critical minerals, steel supply chains, and digital partnerships.
The decisions were taken during talks between Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva in the national capital. The meeting focused on expanding economic ties and enhancing strategic cooperation amid an uncertain global economic environment.
India-Brazil relations take a new leap: Trade deal signed, $20 billion trade target set
Both leaders agreed to significantly increase trade between the two countries. Bilateral trade crossed $15 billion in 2025, marking strong growth from the previous year.
During the discussions, officials confirmed that the two sides now aim to double trade to $30 billion by the end of the decade, reflecting growing economic engagement between the two major economies of the Global South.
India already counts Brazil as its largest trading partner in Latin America, with cooperation spanning several sectors including agriculture, energy, and manufacturing.
A key outcome of the meeting was the signing of agreements to strengthen collaboration in rare earth and critical minerals, resources that are essential for manufacturing electronics, batteries, and advanced technologies.
Brazil, which holds large mineral reserves and is a major exporter of iron ore, is expected to play a key role in supporting India’s growing demand for raw materials used in infrastructure and steel production.
Officials said the partnership could also attract investments in mineral exploration, mining and steel sector infrastructure.
Apart from minerals and trade, the two countries pledged to expand cooperation in areas such as defence, oil and gas, healthcare, digital public infrastructure, and technology.
The leaders also discussed expanding the India-Mercosur preferential trade agreement, which could further boost trade between India and Latin American countries.
Both sides highlighted the importance of strengthening multilateral cooperation and promoting the interests of the Global South in global institutions.
India and Brazil also discussed global trade developments and the evolving international economic landscape, emphasising the need for closer strategic dialogue to navigate global uncertainties.
The agreements signed during the visit are expected to deepen economic engagement and open new opportunities for cooperation between the two rapidly growing economies.
