India, Brazil set $20 billion trade target over five years

India and Brazil have agreed to push bilateral trade beyond USD 20 billion within five years, following talks between Prime Minister Narendra Modi and President Luiz Inacio Lula da Silva. The discussions centred on critical minerals, security cooperation, and strengthening the collective voice of the Global South.

New Delhi: India and Brazil on Saturday set a bilateral trade target of more than USD 20 billion in the next five years, after Prime Minister Narendra Modi held wide-ranging talks with Brazilian President Luiz Inacio Lula Da Silva, focussing in the areas of critical minerals and security.

Modi said the relations between India and Brazil have long benefitted from President Lula’s visionary outlook and inspiring leadership.

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He also noted that Brazil is India’s largest trade partner in Latin America.

“We are committed to taking the India-Brazil trade beyond USD 20 billion in the next five years,” the prime minister said in his media statement after the talks.

He asserted that when India and Brazil work together, the voice of the Global South becomes stronger.

Modi also said both countries agree that terrorism and its supporters are enemies of the entire humanity.