India, Brazil Target $30 Billion Bilateral Trade By 2030
New Delhi: India and Brazil are looking to double bilateral trade to $30 billion by 2030, with both countries seeking stronger cooperation across pharmaceuticals, chemicals, engineering goods and machinery. The target was reaffirmed at the eighth India-Brazil Trade Monitoring Mechanism meeting held in Brasilia. The talks were co-chaired by Commerce Secretary Rajesh Agrawal and Brazil's Foreign…
By 2030, India and Brazil aim to double their bilateral trade to $30 billion, focusing on key sectors such as pharmaceuticals, chemicals, engineering goods, and machinery. This target was reaffirmed during the eighth India-Brazil Trade Monitoring Mechanism meeting in Brasilia, co-chaired by Commerce Secretary Rajesh Agrawal and Brazil's Foreign Trade Secretary Tatiana Lacerda Prazeres. The trade between the two nations reached $15.07 billion in 2025-26, indicating a steady growth in economic ties.
Agriculture and market access were also significant areas of discussion. Both countries sought predictable regulatory pathways and improved market access for their respective products, including phytosanitary approvals for priority products. Discussions also covered the India-MERCOSUR Preferential Trade Agreement, with both sides emphasizing the need to modernize and expand the existing arrangement.
The meeting saw participation from over 25 Indian businesses, including representatives from Kirloskar Group, UPL, and Aditya Birla Group. An ApexBrasil office is expected to open in New Delhi, further strengthening business links and encouraging Brazilian investment in India.
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