India-Brazil Trade Set to Cross USD 20 Billion: PM Modi and Lula Discuss Technology, Energy, and Agriculture

Energy collaboration will focus on renewable energy, ethanol blending, and sustainable aviation fuel. File Photo.

On Saturday, Prime Minister Narendra Modi announced that India and Brazil aim to boost bilateral trade beyond USD 20 billion over the next five years, following extensive talks with visiting Brazilian President Luiz Inácio Lula da Silva. The discussions focused on strengthening the strategic partnership across technology, energy, defence, and agriculture.

Speaking at a joint press event after delegation-level meetings, Modi called Brazil India’s largest trading partner in Latin America, describing the economic ties as “not merely a number but a reflection of trust.” President Lula is in India to attend the AI Impact Summit and engage in bilateral talks.

Both leaders discussed expanding the MERCOSUR trade framework to boost economic cooperation. Plans include setting up a Centre of Excellence for Digital Public Infrastructure in Brazil and collaborating in artificial intelligence, semiconductors, supercomputing, and blockchain. Technology cooperation, they noted, should be inclusive and benefit the Global South.

Energy collaboration will focus on renewable energy, ethanol blending, and sustainable aviation fuel. Brazil will actively participate in the Global Biofuel Alliance. Defence ties are also growing steadily, reflecting increased mutual trust.

In agriculture, both countries will work on climate-resilient farming, precision agriculture, and bio-fertilisers and establish a Centre of Excellence in Brazil for oilseeds, pulses, and integrated farming. Health cooperation will include affordable medicines and promotion of Ayurveda.

On global issues, Modi said India and Brazil will continue to advocate dialogue and diplomacy and push for international institution reforms, strengthening the voice of the Global South.

Source: The Tribune