India-Brazil bilateral trade set to reach $20 bn with focus on critical minerals, AI, defence: Envoy
Brazil's Ambassador to India highlighted growing trade relations, expecting bilateral trade to reach USD 20 billion soon. The partnership encompasses critical sectors such as defence, energy, and pharmaceuticals, promoting economic engagement. Both nations aim to deepen cultural ties, celebrating the centenary of musician Antonio Carlos Jobim in 2027. Recent political visits strengthened…
Brazil's Ambassador to India, Kenneth Felix Haczynski da Nobrega, announced on Friday that bilateral trade between the two nations is poised to reach a significant USD 20 billion mark. Speaking at an event to mark Brazil's National Day, the envoy outlined the expanding cooperation in critical minerals, defence, energy, pharmaceuticals and artificial intelligence.
The two countries are entering a new phase of their relationship, with growing political commitment and business ties fueling the partnership, da Nobrega said. India has become Brazil's fifth-largest trading partner, and India's foreign direct investment in Brazil has surged to USD 10 billion, he added. Major Brazilian companies, such as aerospace major Embraer, are expanding their presence in India.
Both countries are also strengthening partnerships in emerging technologies and strategic sectors, with recent progress in negotiations to expand the trade agreement between India and MERCOSUR.
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