India calls for more predictable regulatory environment in Brazil to boost pharma exports
India and Brazil also agreed for early finalisation of terms of reference for starting negotiations to expand the scope of the existing trade pact between New Delhi and the South American bloc Mercosur
On August 31, 2026, the Indian Commerce Ministry urged for a more stable regulatory framework in Brazil to stimulate the country's pharmaceutical exports. This concern was addressed during the eighth session of the India-Brazil Trade Monitoring Mechanism (TMM) held in Brasilia, Brazil. Rajesh Agarwal, the Commerce Secretary, participated in the meeting.
The session achieved advancements in facilitating market access for Indian pharmaceutical products. India stressed the importance of establishing predictable regulatory paths and enhancing market access opportunities. The Ministry added that India can aid in delivering affordable, high-quality medications and advance efforts for more accessible healthcare.
Additionally, India and Brazil concurred on expediting the finalization of the terms of reference for initiating negotiations to broaden the scope of their existing trade pact, the India-Mercosur Preferential Trade Agreement (PTA). The PTA, which has been in effect since June 1, 2009, initially covered only 450 tariff lines or products, accounting for a limited portion of bilateral trade.
Both countries are striving to expand the scope of this agreement into a comprehensive accord. The India-Mercosur PTA has vast potential for growth and modernization. With bilateral trade between India and Brazil reaching $20.84 billion in 2025, both sides pledged to swiftly finalize the Terms of Reference. The objective is to increase trade to $30 billion by 2030.
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