India, Brazil discuss roadmap to take bilateral trade to $20 billion in 5 years
The India‑Brazil Trade Monitoring Mechanism (TMM) held its seventh meeting in New Delhi on Tuesday, October 7, to keep the partnership between the two nations moving forward. Commerce Secretary Rajesh Agrawal of India and Brazil’s foreign‑trade chief Tatiana Lacerda Prazeres ran the session together.
Both sides reviewed how trade and investment have grown and drew a new plan to boost business ties. Topics on the agenda included expanding the India‑MERCOSUR preferential trade agreement, easing market entry rules, and simplifying visa procedures. They also discussed joint projects in pharmaceuticals, healthcare, chemicals, petrochemicals, MSMEs, banking, finance and overall industrial development.
India and Brazil have been diplomatic allies for more than 75 years. Their shared democratic values and commitment to development have always guided their relationship. This latest meeting follows Prime Minister Narendra Modi’s July 2025 visit to Brazil, where he and President Luiz Inácio Lula da Silva pledged to grow bilateral trade to $20 billion within five years.
Brazil remains India’s biggest Latin‑American trade partner. In FY 2024‑25, merchandise trade between the two countries reached $12.19 billion. India’s export narrative is changing: while the U.S. stays important, exports to the Netherlands, UAE, Australia, Saudi Arabia, South Africa, Brazil, and Mexico are rising, showing a broader market base.
This meeting underscores how India and Brazil aim to deepen ties, improve market access and expand trade, a move that will benefit industries and consumers alike.
Source: ianslive
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