Brazilian President Lula da Silva set an ambitious target at New Delhi’s India-Brazil Business Forum: bilateral trade reaching $30 billion by 2030, nearly double the current $15 billion. This bold vision underscores deepening ties between two emerging giants.
Hosted collaboratively by FICCI, DPIIT, Brazilian foreign affairs, industry ministries, and ApexBrasil, the forum buzzed with deal-making energy. Lula traced the journey from $2.4 billion in 2006 to today’s levels, fueled by 25% growth last year. ‘We’re barely scratching the surface of our potential,’ he asserted.
Emphasizing commitment over geography, Lula rallied for accelerated trade. Commerce Minister Piyush Goyal aligned fully, urging faster expansion. Brazil’s mineral wealth—niobium, lithium, iron ore—pairs perfectly with India’s innovation and production capabilities, he said.
Opportunities abound in agriculture, aerospace, autos, and digital realms where Brazil excels. Goyal extended a warm invitation for Brazilian investments in India. Key agreements followed: a $500 million iron ore blending plant by NMDC, Vale, and Adani Gangavaram Port.
Pharma deals focus on collaborative research for cancer and severe disease treatments. Embraer and Adani Defence will assemble E175 jets locally, boosting aerospace ties. ApexBrasil-FICCI MoU aims to enhance trade and international partnerships.
Both leaders called for protecting Global South interests in global economics and fair IP access. As deals ink and ambitions soar, India-Brazil trade is poised for transformative growth, reshaping bilateral and multilateral dynamics.