Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva have set a $20 billion bilateral trade target over the next five years, the Ministry of External Affairs (MEA) announced, following comprehensive talks in Brasília.
The two leaders explored cooperation across defence, agriculture, clean energy, AI, critical minerals, digital public infrastructure, and traditional medicine, agreeing to elevate trade talks to ministerial level for regular monitoring.
🔑 Key Highlights:
💼 Trade & Investment
- $20 billion trade target set for 5 years.
- Agreement to expand the India-MERCOSUR Preferential Trade Agreement (PTA); Brazil affirmed support as current Mercosur chair.
- Formation of a ministerial-level mechanism for trade and investment oversight.
🔋 Clean Energy & Climate Action
- Brazil and India agreed to jointly work on renewable energy, bioenergy, and critical minerals cooperation.
- Modi reaffirmed India’s support for COP30, to be hosted by Brazil, underlining joint climate commitments.
- Emphasis on sustainable mining and refining of lithium, copper, and rare earths — vital to India’s clean energy ambitions.
🧠 Technology & Digital Transformation
- Signed MoU on sharing India’s Digital Public Infrastructure (DPI) innovations, including work on UPI adoption in Brazil.
- MoU on AI, super computing, and emerging technologies.
- Ongoing support for space cooperation and scientific R&D.
🛡️ Security & Defence
- Signed agreement on combating international terrorism and transnational crime.
- Strengthened ties between defence industries.
- Shared commitment to zero tolerance against terrorism, with Lula expressing solidarity following the Pahalgam terror attack in April.
🌾 Agriculture & Pharma
- MoU on agricultural research and knowledge transfer signed.
- India urged fast-track approval of Indian pharma products already cleared by US FDA and EDQM for the Brazilian market.
- Collaboration to enhance affordable healthcare access in Brazil.
🧘 Cultural & Traditional Ties
- Plans to expand Ayurveda and traditional medicine in Brazil.
- Efforts to ease visa regimes for students, tourists, sportspersons, and professionals.
- Joint initiatives in sports cooperation, especially in football and cricket management.
🤝 MoUs Signed:
- Combating international terrorism & organised crime
- Sharing digital solutions for digital transformation
- Renewable energy cooperation
- (Pending later signing) MoUs on:
- Agricultural research
- Protection of classified information
- Intellectual property cooperation
🏅 Special Honour:
President Lula conferred Brazil’s highest civilian honour, the Grand Collar of the National Order of the Southern Cross, on PM Modi — only the second time in 57 years that an Indian PM has made a bilateral visit to Brazil.
“This is a moment of pride for all 140 crore Indians,” Modi said, dedicating the honour to India-Brazil friendship.
🌍 Multilateral Coordination:
- Both leaders emphasized enhanced South-South cooperation through BRICS, G20, IPSA, and the UN.
- Modi invited Lula for a reciprocal State visit to India, which Lula accepted.