India-Brazil trade to cross $20 bn in 5 yrs in 'win-win' deal: PM Modi

PM Modi and Brazilian President Luiz Inacio Lula da Silva held talks in New Delhi, focusing on boosting trade, technology, energy cooperation and strengthening strategic ties between the two nations

Prime Minister Narendra Modi on Saturday held bilateral talks with Brazilian President Luiz Inacio Lula da Silva, wherein leaders of both the nations committed to raising bilateral trade beyond $20 billion over the next five years. 

Speaking at a joint news conference, PM Modi said the talks aimed at “moving forward across all sectors in the spirit of shared purpose.” He appreciated President Lula’s “visionary leadership” in strengthening India-Brazil relations and thanked him for participating in the AI Impact Summit held in New Delhi. He said that India-Brazil efforts strengthen the voice of the Global South.

 

"In the coming years, we are committed to taking our bilateral trade beyond $20 billion. Our trade is not just figures, but a reflection of trust. The business delegation that came with the President shows this trust,” PM Modi said.

 

"We will continue to further strengthen this win-win partnership," he added.

 

PM Modi added that both countries agree that terrorism and its supporters are enemies of the entire humanity

 

The Prime Minister described Brazil as India’s “largest trading partner in Latin America” and noted that the visit of a large Brazilian business delegation reflects the confidence in bilateral economic cooperation. He added that the expansion of the India-MERCOSUR (Southern Common Market) trade agreement would further strengthen ties.

 

PM Modi also pointed to technological collaboration, noting efforts to set up a “Centre of Excellence for Digital Public Infrastructure in Brazil” and advancing work in “artificial intelligence, supercomputers, semiconductors and blockchain.” He stressed that technology should be “inclusive” and serve as a bridge for shared progress.

 

Energy cooperation was also highlighted as a key pillar of the partnership. The Prime Minister mentioned efforts to accelerate collaboration in renewable energy, ethanol blending and sustainable aviation fuel. He lauded Brazil’s active role in the Global Biofuel Alliance and welcomed its proposal to co-chair the Coalition for Disaster Resilient Infrastructure, saying the country’s “extensive experience” would strengthen the initiative.

 

Earlier, Modi and Lula held delegation-level talks attended by External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal, National Security Advisor Ajit Doval, Foreign Secretary Vikram Misri and other senior officials.

 

The Brazilian President, who had arrived in India on February 19 to attend the AI Impact Summit, received a ceremonial welcome at Rashtrapati Bhavan, where he was also given a Guard of Honour. PM Modi and President Droupadi Murmu were present during the ceremony. President Lula da Silva also paid tributes to Mahatma Gandhi at Rajghat.

 

The Brazilian President came with a large delegation of top CEOs, who are expected to participate in a business forum to explore investment and trade opportunities. The visit follows PM Modi’s July 2025 trip to Brasilia, the first by an Indian Prime Minister in more than 50 years.

 

(With inputs from agencies)