Modi-Lula talks: India, Brazil target $20 billion trade in 5 years, sign critical minerals pact
To boost cooperation in tech, energy and defence
Prime Minister Narendra Modi on Saturday said India and Brazil have set a target of taking bilateral trade beyond $20 billion in the next five years, as he held wide-ranging talks with visiting Brazilian President Luiz Inácio Lula da Silva. The meeting was aimed at deepening the strategic partnership across technology, energy, defence and agriculture sectors.
Addressing a joint press interaction after delegation-level talks, Modi described Brazil as India’s largest trading partner in Latin America and said the economic relationship was “not merely a number but a reflection of trust”. The Brazilian leader is in India to participate in the AI Impact Summit and for bilateral engagements.
The Prime Minister said both sides discussed expanding the MERCOSUR trade framework to strengthen economic cooperation. A Centre of Excellence for Digital Public Infrastructure will be established in Brazil, while collaboration will also expand in artificial intelligence, semiconductors, supercomputing and blockchain technologies.
Technology cooperation, he said, would benefit not only the two countries, but also the Global South, with both nations agreeing that technological progress must remain inclusive.
Energy partnership featured prominently in the talks, with the two sides agreeing to accelerate cooperation in renewable energy, ethanol blending and sustainable aviation fuel. Modi welcomed Brazil’s active participation in the Global Biofuel Alliance and said it reflected a shared commitment to a green future.
Brazil has proposed co-chairing the Coalition for Disaster Resilient Infrastructure, an initiative India believes will benefit from Brazil’s experience in disaster management. The countries also signed an agreement on critical minerals and rare earths aimed at building resilient supply chains.
Defence cooperation is expanding steadily, Modi said, describing it as an example of growing mutual trust and strategic alignment.
In agriculture, the two sides agreed to work on climate-resilient farming, precision agriculture and bio-fertilisers, along with establishing a Centre of Excellence in Brazil focused on oilseeds, pulses and integrated farming. Cooperation in health and pharmaceuticals will include increased supply of affordable medicines from India and promotion of Ayurveda and traditional medicine in Brazil.
On global issues, Modi said India and Brazil would continue to advocate dialogue and diplomacy and jointly push for reform of international institutions. “When India and Brazil work together, the voice of the Global South becomes stronger and more confident,” he said.
