Follow WOWNEWS 24x7 on:
Updated: July 10, 2025 06:43
India and Brazil have initiated a comprehensive strategic blueprint to elevate bilateral relations to the next level with a target of doubling trade to $20 billion in five years. The blueprint was unveiled during Prime Minister Narendra Modi's state visit to Brasilia, where he met President Luiz Inácio Lula da Silva following the BRICS Summit.
Trade and Economic Development
India and Brazil are scheduled to deepen the India-MERCOSUR Preferential Trade Agreement.
Two-way trade was at $12.2 billion in FY25, as engineering products, pharmaceuticals, and diesel propelled Indian exports
Brazil ships to India iron ore, soya oil, gold, and crude oil.
Defense and Security Cooperation
Six MoUs signed, including counter-terrorism and sharing of secret information agreements
The two countries pledged zero-tolerance for terror and emphasized collaborative action with a perspective to eliminating terror financing
Cooperation in defense industries will comprise technology transfer and collaborative manufacturing
Energy and Digital Infrastructure
Clean energy and renewable resources emerged as priority fields of cooperation
India's digital payment system UPI to be incorporated into Brazil's financial system
Space technology, supercomputing, and AI were the focus as areas of future cooperation
Critical Minerals and Climate Targets
Brazil's deposits of rare earth meet India's clean energy requirements
Collaborative efforts will be focused on processing, recycling, and mining of critical minerals,
Sources: Hindustan Times, Outlook Business, UNI India, Economic Times, MSN News, HDFC Sky
Follow WOWNEWS 24x7 on:
Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.
Powered By Just Imagine
