Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva signed key agreements in areas including rare earth minerals, digital partnership and mining cooperation on Saturday and aimed to raise bilateral trade to $20 billion within five years. The two countries sought to deepen their strategic and economic ties. Addressing a joint press conference after delegation-level talks in New Delhi, PM Modi said, “I am delighted to welcome President Lula and his delegation to India. India-Brazil relations have long benefited from President Lula’s vision and inspiring leadership.”
“We are committed to taking bilateral trade beyond $20 billion in the next five years. Our trade is not just a figure; it’s a reflection of trust.”
He added that the expansion of the India–MERCOSUR trade agreement would further boost economic cooperation, as Brazil is India’s largest trading partner in Latin America.
India, Brazil sign three agreements
India and Brazil signed three agreements covering digital cooperation, critical minerals and mining supply chains.
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PM Modi described the critical minerals agreement as significant amid global supply chain concerns. “The agreement is a major step towards building resilient supply chains,” he said. The two sides also agreed to expand cooperation in emerging technology sectors.
“I am pleased that we are working on establishing a Centre of Excellence for Digital Public Infrastructure in Brazil. We are also prioritising our cooperation in areas such as artificial intelligence, supercomputers, semiconductors, and blockchain,” PM Modi said.
Energy cooperation emerged as a key pillar of the talks, with both sides agreeing to accelerate collaboration in renewable energy and sustainable fuels.
“Energy cooperation has been a strong pillar of our relationship. In addition to hydrocarbons, we are also accelerating cooperation in several areas, including renewable energy, ethanol blending, and sustainable aviation fuel,” PM said. He also hailed Brazil’s participation in global climate initiatives like Global Biofuel Alliance.
‘A meeting of digital superpower with renewable energy superpower,’ says Lula
President Lula described the meeting as a partnership between two major global powers of the Global South and highlighted the strategic importance of India-Brazil relations. “My dear friend Modi, it is a reason of happiness for me to return to this country for the sixth time. The meeting between India and Brazil is a meeting of superlatives. We are not just the two biggest democracies of the Global South. This is a meeting of a digital superpower with a renewable energy superpower,” Lula said.
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He said both countries share common positions on global governance and multilateral cooperation. “A turbulent global scenario requires our countries to strengthen and deepen our strategic dialogue. India and Brazil are crucial voices at the UN, the WTO and G20,” he said.
