India and Brazil have agreed to push bilateral trade beyond USD 20 billion over the next five years, following wide-ranging talks between Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva on Saturday. The discussions spanned critical minerals, defence, health, agriculture, and global security.
Addressing the media after the summit, Modi said Brazil holds the distinction of being India’s largest trading partner in Latin America and reaffirmed both nations’ commitment to hitting the new trade milestone. “We are committed to taking the India-Brazil trade beyond USD 20 billion in the next five years,” he said.
Modi cast the partnership in broader geopolitical terms, positioning the two democracies as champions of the developing world. “India and Brazil’s partnership on the global stage has been strong and influential. When India and Brazil work together, the voice of the Global South becomes stronger and more confident,” he stated.
On security, both leaders aligned on a firm stance against terrorism. “India and Brazil are unanimous that terrorism and its supporters are enemies of all humanity,” Modi said, adding that both countries believe all disputes must be resolved through dialogue and diplomacy.
The two sides also reached an agreement on critical minerals and rare earths, which Modi described as a major step toward building a resilient supply chain. Defence cooperation, he noted, is steadily growing — a reflection of deepening mutual trust and strategic alignment.
Modi highlighted further areas of convergence, including climate-resilient agriculture, precision farming, biofertilisers, and the pharmaceutical sector. “There is immense potential for cooperation in the health and pharmaceutical sectors. We will work to increase the supply of affordable and quality medicines from India to Brazil,” he said.
The Prime Minister also thanked Lula for participating in the Global AI Impact Summit and acknowledged his role in strengthening India-Brazil relations.
Earlier in the day, President Lula received a ceremonial welcome at Rashtrapati Bhavan, where he was accorded a Guard of Honour and received by both Modi and President Droupadi Murmu. He also paid tributes to Mahatma Gandhi at Rajghat.
Lula arrived in India with a large delegation of senior executives from Brazilian companies, who are expected to take part in a bilateral business forum. His state visit comes on the heels of Modi’s trip to Brasilia in July 2025 the first visit by an Indian prime minister to Brazil in over five decades.