7 hours ago
Last Updated:July 09, 2025, 07:05 IST
India is pushing for faster access to its pharma products in Brazil, tapping into a growing market for its medicines.
Prime Minister Narendra Modi and Brazil's President Luiz Inacio Lula da Silva during a joint press meet after their meeting, in Brasilia, Brazil on Tuesday, (PMO via PTI Photo)
Prime Minister Narendra Modi’s visit to Brazil has yielded a raft of strategic outcomes, ranging from enhanced trade ambitions to critical mineral partnerships and an anti-terror pact, according to key government sources.
A key highlight was the establishment of a $20 billion bilateral trade target over the next five years, with both sides agreeing to diversify their trade portfolios beyond existing sectors. A ministerial-level mechanism will be established to steer future commerce and trade talks. PM Modi also urged Brazilian President Luiz Inácio Lula da Silva to support the expansion of the India-MERCOSUR Preferential Trade Agreement (PTA), a move Lula instructed his team to prioritise, recognising its potential for mutual benefit.
India is pushing for faster access to its pharma products in Brazil, tapping into a growing market for its medicines. The two countries also discussed cooperation in the mining and refining of critical minerals, especially lithium, copper, and rare earths—areas where Brazil has rich reserves. Collaborations were also proposed in defence manufacturing, biofuel technology, digital public infrastructure, and sports, particularly cricket and football.
On global security, the leaders signed a cooperation agreement to combat international terrorism and organised crime, and reaffirmed support for counter-terror financing initiatives under the UN and FATF. PM Modi thanked Brazil for condemning the Pahalgam terrorist attack and welcomed Lula’s solidarity with India.
Both nations reiterated support for UNSC reforms, backed a two-state solution in Palestine, and discussed the Ukraine conflict’s impact on the Global South. The visit signifies a deeper alignment between the two major democracies on both economic and geopolitical fronts.
Siddhant Mishra is a Senior Special Correspondent at CNN-News18, covering foreign affairs and international relations. With over 12 years of experience in journalism, he has also reported extensively on crime, ...Read More
Siddhant Mishra is a Senior Special Correspondent at CNN-News18, covering foreign affairs and international relations. With over 12 years of experience in journalism, he has also reported extensively on crime, ...
Read More
News india India, Brazil Set $20 Billion Trade Target, Forge Key Deals On Terror, Pharma, Critical Minerals
