During his state visit to Brazil, Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva agreed to set a new bilateral trade target of USD 20 billion to be achieved over the next five years, according to the Ministry of External Affairs (MEA). The two leaders discussed strengthening ties across various sectors, including defence, agriculture, energy, digital technology, and climate action.
MEA Secretary (East) P Kumaran, addressing a briefing in Brasilia, said the leaders explored the “entire spectrum of the partnership.” Discussions included key areas such as food and nutritional security, artificial intelligence, industrial cooperation, critical minerals, and the pharmaceutical industry.
“The two leaders noted that ample opportunities lie ahead for diversifying and expanding bilateral trade. They set a bilateral trade target of 20 billion dollars to be achieved in the next five years. They also decided to elevate the level of trade talks and establish a ministerial-level mechanism for monitoring trade, commerce and investment-related matters,” the MEA said.
PM Modi also sought Brazil’s support in expanding the India-Mercosur trade agreement. He was welcomed with a ceremonial reception at the Palacio da Alvorada, the official residence of the Brazilian President.
This visit marks Modi’s fourth to Brazil and the second-ever bilateral visit by an Indian Prime Minister in 57 years. His earlier visits in 2014 and 2019 were for BRICS summits, and in 2023 for the G20 summit.
During delegation-level talks, the leaders discussed a wide range of issues including digital public infrastructure, traditional medicine, science, space, and cooperation in sports. The leaders emphasized the significance of climate action, with PM Modi expressing support for Brazil’s upcoming COP30 summit.
“Highlighting the global challenge of climate change, both leaders reiterated their commitment to work together towards climate action and sustainability. Prime Minister reaffirmed India’s support and wished President Lula success in holding the forthcoming COP30 climate change conference in Brazil.”
Both leaders welcomed collaboration in critical minerals, particularly in mining, processing, and refining. They also discussed health sector cooperation, with India requesting fast-track approvals for Indian medicines already certified by US FDA or EDQM.
There were agreements signed in several areas. “Three agreements were signed today and exchanged in front of the President and the Prime Minister. These were the agreements on cooperation in combating international terrorism and transnational organised crime, an MoU on cooperation for the sharing of successful large-scale digital solutions for digital transformation, MoU on cooperation in renewable energy.”
Three more MoUs, including those on agricultural research, classified information exchange, and intellectual property cooperation, were scheduled to be signed later in the day.
President Lula also hosted a banquet lunch in PM Modi’s honour, where both leaders discussed multilateral cooperation platforms such as BRICS, G20, IPSA, and the UN.
PM Modi invited President Lula to visit India, which the Brazilian leader accepted. Kumaran also mentioned that President Lula strongly condemned the Pahalgam terror attack in April, in which 26 civilians were killed, and expressed solidarity with India.
PM Modi arrived in Brazil after visiting Argentina and will next travel to Namibia, where he is scheduled to address its Parliament.
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