India, Brazil Set $20B Trade Goal, Sign 6 Key Cooperation Deals

• India and Brazil aim to raise bilateral trade to USD 20 billion in five years.
• Six agreements were signed on terrorism, energy, agriculture, and digital cooperation.
• Both sides agreed to deepen defence ties and global coordination.

India and Brazil aim to significantly increase their annual bilateral trade to USD 20 billion over the next five years, a goal brought about after extensive discussions of Prime Minister Narendra Modi and Brazilian President Luís Inácio Lula da Silva, following their meeting of the BRICS Summit.

The two countries signed six agreements covering important sectors, including energy, agriculture, digital transformation, renewable energy, and intellectual property.

Prime Minister Narendra Modi said, "We have a similar thinking on the fight against terrorism -- zero tolerance and zero double standards. We are clear that there is no place for double standards on terrorism".

He added, "We strongly oppose terrorism and those who support terrorism".

Included in the agreements were member Memorandum of Understanding (MoU)s to combat terrorism and transnational organized crime, and an arrangement to exchange and protect classified information with one another.

"We want India-Brazil relations to be as colourful as carnival, as passionate as football, and as connecting hearts as samba, without long lines at the visa counter! In this spirit...We will make efforts to facilitate people-to-people contacts between the two countries, especially tourists, students, sportspersons and businessmen", Modi stated.

Also Read: Trump Announces New Tariffs, Says US-India Deal Near Completion

"Now we will also work together on agricultural research and food processing. We are also increasing our win-win cooperation in the field of health. We emphasised on the expansion of Ayurveda and traditional medicine in Brazil", he added.

Prime Minister Modi emphasized that both nations reject double standards on terrorism, and agreed to enhance defence and agricultural research cooperation, which he said are factors illustrating "deep mutual trust".

He said, "We will continue our efforts to connect our defence industries. Both sides are also working together on the adoption of UPI (Unified Payments Interface) in Brazil. We will be happy to share India's successful experience in areas like digital public infrastructure and space with Brazil. Our cooperation in artificial intelligence and supercomputers is growing. This is a proof of our common thinking of inclusive development and human-centric innovation".

"As two large democratic countries, our cooperation is relevant not only for the Global South, but for the entire humanity. We believe that it is our moral obligation to raise the concerns and priorities of the Global South at global forums", he noted.

He also stressed that India and Brazil favour a settlement of geopolitical tensions through dialogue and diplomacy, and consider their partnership an important element of stability and balance in the world.

Currently, India-Brazil trade amounts to around USD 13 billion. Modi said the new agreements will provide new impetus to their green growth ambitions, and create strategic partnerships. On his X platform, he called his discussions with President Lula "fruitful" praising Lula’s enduring commitment to India-Brazil relations.