Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva on Saturday set an ambitious goal to increase bilateral trade to $20 billion within the next five years.
As per reports, the two leaders signed key agreements covering rare earth minerals, digital cooperation, and mining collaboration, during President Lula’s state visit to India, reaffirming their commitment to strengthening strategic and economic ties.
Speaking at a joint press conference in New Delhi after delegation-level talks, Prime Minister Modi outlined the outcomes of their discussions and highlighted the growing partnership between the two countries.
“I am delighted to welcome President Lula and his delegation to India. India-Brazil relations have long benefited from President Lula’s vision and inspiring leadership. We are committed to taking bilateral trade beyond $20 billion in the next five years. Our trade is not just a figure; it’s a reflection of trust,” PM Modi said. “
He added that expanding the India–MERCOSUR trade agreement would further enhance economic cooperation. Modi noted that Brazil remains India’s largest trading partner in Latin America.
Key Agreements Signed in Strategic Sectors
The two sides exchanged three Memoranda of Understanding (MoUs), focusing on strategic and future-oriented sectors. This included an MoU on Joint Declaration for Digital Partnership for the Future, an MoU on cooperation in rare earths and critical minerals. Additionally, an MoU on cooperation in mining and steel supply chains was also inked.
PM Modi described the agreement on critical minerals as especially important at a time of global supply chain challenges. “The agreement is a major step towards building resilient supply chains,” he said.
The leaders also agreed to expand collaboration in emerging technologies. “I am pleased that we are working on establishing a Centre of Excellence for Digital Public Infrastructure in Brazil. We are also prioritising our cooperation in areas such as artificial intelligence, supercomputers, semiconductors, and blockchain,” PM Modi said.
Expanding Cooperation in Technology, Energy and Green Initiatives
Energy cooperation was another key focus area. Both leaders agreed to speed up collaboration in renewable energy and sustainable fuels.
“Energy cooperation has been a strong pillar of our relationship. In addition to hydrocarbons, we are also accelerating cooperation in several areas, including renewable energy, ethanol blending, and sustainable aviation fuel,” PM said.
He also welcomed Brazil’s active role in global climate efforts. “Brazil’s active participation in the Global Biofuel Alliance reflects our shared commitment to a green future,” the prime minister added.
Lula Praises India’s Digital Growth, Supports Deeper Strategic Dialogue
President Lula described the meeting as an important partnership between two leading nations of the Global South. He emphasised the strategic value of India–Brazil ties.
“My dear friend Modi, it is a reason of happiness for me to return to this country for the sixth time. The meeting between India and Brazil is a meeting of superlatives. We are not just the two biggest democracies of the Global South. This is a meeting of a digital superpower with a renewable energy superpower,” Lula said.
He added that both countries share similar views on global governance and multilateral cooperation.
“A turbulent global scenario requires our countries to strengthen and deepen our strategic dialogue. India and Brazil are crucial voices at the UN, the WTO and G20,” he said.
President Lula arrived in India on a state visit with a large delegation, including leading Brazilian business representatives. They are expected to take part in a business forum aimed at expanding trade and commercial partnerships.
Earlier in the day, Lula received a ceremonial welcome at Rashtrapati Bhavan. He later held delegation-level talks with Prime Minister Modi at Hyderabad House and paid tribute to Mahatma Gandhi at Rajghat.
The visit comes after Prime Minister Modi’s trip to Brazil in July 2025, the first visit by an Indian prime minister to Brazil in more than 50 years.
The exchanges between the two leaders reflect growing momentum in India–Brazil relations as both nations seek to deepen cooperation in trade, technology, energy, and strategic affairs.
