India and Brazil Target 20 Billion Dollar Trade Milestone Within Five Years

Prime Minister Narendra Modi held extensive talks with Brazil’s President Luiz Inácio Lula da Silva at Hyderabad House in New Delhi on Saturday, with both leaders committing to expand cooperation across trade, defence, technology and global governance.

The high-level meeting focused on strengthening the India-Brazil Strategic Partnership in key areas, including trade, energy, agriculture, defence, climate action, digital technology, artificial intelligence, semiconductors and critical minerals. The two leaders also underlined the importance of greater collaboration among countries of the Global South.

A total of ten agreements were exchanged during the visit, covering sectors such as critical minerals, digital cooperation, traditional knowledge sharing, health, MSMEs, entrepreneurship and mass communication. Both sides set an ambitious target of raising bilateral trade to over 20 billion US dollars within the next five years.

In a joint statement after the talks, Prime Minister Modi said India-Brazil ties have grown stronger under President Lula’s leadership. Calling Brazil India’s largest trading partner in Latin America, he said the goal is to take trade beyond 20 billion dollars in the coming years. He described the trade relationship as not merely a number, but a reflection of deep trust between the two nations.

The Prime Minister also expressed satisfaction over ongoing efforts to establish a Centre of Excellence for Digital Public Infrastructure in Brazil. He noted that cooperation in technology and innovation would not only benefit India and Brazil but also strengthen the wider Global South.

Highlighting the agreement on critical minerals and rare earths, Modi termed it a major step toward building resilient and secure supply chains. He added that defence cooperation between the two countries continues to expand, calling it a strong example of strategic trust and synergy.

Both leaders reiterated their shared vision of an inclusive and multipolar world order. They jointly called for urgent reforms in global institutions, particularly the United Nations Security Council, to better reflect present-day realities.

Prime Minister Modi stressed that India and Brazil are united in their stand against terrorism. He said terrorism and those who support it are enemies of humanity and must be confronted collectively.

Earlier in the day, President Droupadi Murmu and Prime Minister Modi received President Lula with a ceremonial welcome at the forecourt of Rashtrapati Bhavan. The Brazilian leader also paid homage to Mahatma Gandhi at Rajghat.

Also Read: Brazilian President Welcomed at Rashtrapati Bhavan, Holds Talks with Modi