India-Brazil bilateral trade to reach $20 bn: Envoy

Brazil's Ambassador to India, Kenneth Felix Haczynski da Nobrega, affirmed that India-Brazil bilateral trade is set to surpass $20 billion. Speaking at an event marking Brazil's National Day, the envoy said the strategic and economic partnership between the two countries is expected to enter a new phase as they look forward to the upcoming 80th anniversary of diplomatic relations. Political commitment and burgeoning business ties are driving this transformation, according to the envoy.

India is now Brazil's fifth-largest trading partner, with substantial progress made in negotiations to expand the trade agreement between India and the Southern Common Market (MERCOSUR). Major Brazilian firms are expanding their operations in India, with aerospace giant Embraer being a notable new participant. India's foreign direct investment in Brazil has also seen a significant rise, reaching $10 billion.

The ambassador credited the growing economic engagement to over 150 business and technology missions exchanged between the two nations over the past three years. In emerging technologies and strategic sectors, Brazil and India are deepening partnerships in energy, defense, agriculture, healthcare, digital infrastructure, and artificial intelligence.

Recent agreements include cooperation on rare earths and critical minerals, as well as new collaborations in pharmaceutical research and innovation, and a broad digital partnership.

Mutual trust is a cornerstone of this relationship, having evolved over eight decades. The ambassador highlighted India's leadership during its BRICS chairmanship, especially its ability to unite member countries for discussions on pressing global issues. Brazil and India have also strengthened environmental cooperation following COP30, with Brazil co-chairing the Coalition for Disaster Resilient Infrastructure (CDRI) and the Global Biofuels Alliance alongside India.

The ambassador recalled the recent state visits by Prime Minister Narendra Modi to Brazil and Brazilian President Luiz Inacio Lula da Silva to India, emphasizing how these visits bolstered political support for expanding cooperation in economic and technological fields. Looking ahead, both countries aim to deepen cultural engagement, with Brazil planning to commemorate the 100th birth anniversary of Antonio Carlos Jobim, a pivotal figure in Bossa Nova music, in India in 2027.

The ambassador also noted Brazil's recent peaceful elections, with a turnout of over 150 million voters, reflecting the nation's democratic traditions and civic identity.