India, Brazil set 20bn dollars trade target, eye deeper space, security ties

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PM Modi, Brazilian President Lula pledge joint action on terrorism

The North News

New Delhi, July 9

India and Brazil have pledged to expand their strategic partnership across trade, security, and space cooperation, setting a bilateral trade target of $20 billion over the next five years. The announcement came during Prime Minister Narendra Modi’s state visit to Brazil, where he held wide-ranging discussions with President Luiz Inácio Lula da Silva at the Alvorada Palace in Brasília. Modi received a ceremonial welcome on arrival, and talks were held in both restricted and delegation-level formats.

Highlighting opportunities for economic expansion, the two leaders agreed to deepen trade ties, including exploring the expansion of the India-MERCOSUR Preferential Trade Agreement. They also welcomed a new ministerial-level mechanism to handle commercial discussions.

Brazil has expressed interest in importing rice from India, which is being considered as a potential supplier. Both countries also explored collaboration in critical minerals and new technologies. India offered to launch Brazilian satellites, as it has done in the past, and showcased its cost-effective space programme. MEA Secretary (East), P. Kumaran, highlighted India’s Mars mission as being less expensive than a Hollywood film and noted the emergence of over 300 Indian space-tech startups.

President Lula expressed full support for the global fight against terrorism,” said Secretary (East) P. Kumaran, adding that the Brazilian leader strongly condemned the terrorist attack in Pahalgam.

The two leaders reaffirmed a shared commitment to countering terrorism. Modi underscored the need for zero tolerance against terror and those promoting such acts, while Lula agreed on the importance of global cooperation to defeat terrorism. Prime Minister Modi also thanked Brazil for its support following the April 2025 terrorist attack in Pahalgam, which claimed the lives of several Indian security personnel. Six Memorandums of Understanding were signed, covering counter-terrorism, security information exchange, renewable energy, agricultural research, digital public infrastructure, and intellectual property rights.

The leaders reiterated support for multilateralism and reform of global governance institutions, including the UN Security Council. They pledged to work together on climate change and advance the interests of the Global South. Modi conveyed best wishes to Brazil for hosting the COP30 climate summit.

Key areas of cooperation discussed included defence and security, health, pharmaceuticals, food processing, yoga, traditional medicine, AI, supercomputers, and mobility. President Lula hosted a state banquet in honour of Modi, who extended an invitation to the Brazilian leader to visit India.