NEW DELHI, February 21 — Prime Minister Narendra Modi said Saturday that India and Brazil are committed to increasing bilateral trade to more than $20 billion within the next five years, underscoring the shared goal of strengthening economic and strategic ties.
Speaking at a joint press conference with Brazilian President Luiz Inácio Lula da Silva in New Delhi, Modi said discussions between the two leaders focused on expanding cooperation across sectors and advancing a shared vision for growth and innovation.
“I am delighted to welcome President Lula and his delegation to India,” Modi said. “India-Brazil relations have long benefited from President Lula’s vision and inspiring leadership. His visit has energized our strategic partnership, and I express my gratitude for his continued friendship and commitment to strengthening ties between our countries.”
Modi noted that Brazil is India’s largest trading partner in Latin America and emphasized that both nations are determined to expand economic engagement.
“We are committed to taking bilateral trade beyond $20 billion in the next five years,” Modi said. “Our trade is not just a figure; it reflects mutual trust. The large business delegation accompanying the President highlights the strong confidence in our partnership. Expansion of the India-MERCOSUR trade agreement will further strengthen our economic cooperation.”
The Prime Minister also highlighted growing collaboration in technology and innovation, including plans to establish a Center of Excellence for Digital Public Infrastructure in Brazil.
“We are prioritizing cooperation in artificial intelligence, supercomputers, semiconductors, and blockchain,” Modi said. “Both countries believe technology must be inclusive and serve as a bridge for shared progress.”
Energy cooperation remains a key pillar of bilateral ties, Modi added, noting progress in renewable energy, ethanol blending, and sustainable aviation fuel. He also welcomed Brazil’s participation in the Global Biofuel Alliance and its proposal to co-chair the Coalition for Disaster Resilient Infrastructure.
Earlier in the day, Modi and Lula held delegation-level talks attended by senior officials, including External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal, National Security Advisor Ajit Doval, and Foreign Secretary Vikram Misri.
President Lula was accorded a ceremonial welcome at Rashtrapati Bhavan and received by Modi and President Droupadi Murmu. He also paid tribute to Mahatma Gandhi at Rajghat.
Lula’s visit follows Modi’s trip to Brasília in July 2025, the first visit by an Indian prime minister to Brazil in more than five decades. The Brazilian President is accompanied by a large delegation of senior executives from leading Brazilian companies, who are expected to participate in a business forum aimed at strengthening commercial partnerships between the two countries.
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