Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva have set a bold target of increasing bilateral trade to USD 20 billion over the next five years, underscoring a renewed push to deepen ties across strategic sectors including defence, energy, agriculture, digital transformation, and climate action, the Ministry of External Affairs (MEA) said on Tuesday.
Addressing a briefing in Brasilia, MEA Secretary (East) P Kumaran stated that both leaders discussed the “entire spectrum” of India-Brazil relations during Modi’s state visit, including emerging technologies, food and nutritional security, industrial collaboration, and traditional medicine.
“The two leaders acknowledged the vast opportunities ahead to diversify and expand bilateral trade. They agreed to establish a ministerial-level mechanism to monitor trade, investment, and commerce,” the MEA said.
India also sought Brazil’s support for expanding the India-MERCOSUR Preferential Trade Agreement, which PM Modi said would offer mutual benefits. President Lula assured his backing and instructed his team to work toward advancing the agreement during Brazil’s ongoing presidency of the trade bloc.
Modi’s fourth visit to Brazil—and only the second-ever standalone bilateral visit by an Indian Prime Minister in 57 years—was marked by a warm ceremonial welcome at the Palácio da Alvorada. He held restricted and delegation-level talks with President Lula before attending a ceremonial banquet and joint press conference.
Key highlights from the talks included:
- Defence & Security: Strengthened industrial cooperation and agreement on sharing classified information.
- Energy & Climate: Enhanced collaboration on renewable energy, bioenergy, and critical minerals such as lithium and copper to power clean energy transitions.
- Digital Transformation: Signing of an MoU on digital public infrastructure, along with plans for broader tech and AI collaboration.
- Healthcare: Discussions on fast-tracking approval for Indian pharmaceutical products already approved by US and EU regulators, to ensure affordable healthcare access in Brazil.
- Agriculture: Signing of an MoU on agricultural research, along with plans for knowledge sharing and tech transfers.
- People-to-People Ties: Emphasis on enhancing exchanges in tourism, sports, capacity building, and cultural cooperation.
In total, six agreements and MoUs were signed or finalized during the visit. These include cooperation on combating terrorism and transnational crime, digital public infrastructure, renewable energy, agriculture, intellectual property, and information security.
PM Modi reaffirmed India’s commitment to climate action and extended full support for Brazil’s hosting of the COP30 climate conference in 2025.
President Lula also expressed solidarity with India following the April 22 Pahalgam terror attack and reiterated Brazil’s strong stance against terrorism.
At the culmination of the visit, President Lula conferred Brazil’s highest civilian honour—the Grand Collar of the National Order of the Southern Cross—on Prime Minister Modi. Modi dedicated the award to the people of India and the enduring friendship between the two nations.
The two leaders also exchanged views on global platforms such as BRICS, G20, IPSA, and the United Nations, emphasizing enhanced South-South cooperation.
Prime Minister Modi extended an invitation to President Lula to visit India, which was graciously accepted. Following his Brazil visit, PM Modi is scheduled to travel to Namibia and address its parliament.