Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva engaged in a phone conversation on Thursday, during which they reviewed the robust progress in India-Brazil relations and explored avenues for further collaboration. Modi expressed his eagerness to welcome President Lula to India soon. Lula's visit is expected to occur in early 2026 and feature Brazil's largest-ever official delegation to an Asian nation.
PM Modi conveyed his sentiments in a post on X, stating, "Glad to speak with President Lula. We reviewed the strong momentum in the India-Brazil Strategic Partnership, which is poised to scale new heights in the year ahead". He also emphasized the importance of close cooperation between the two nations in advancing the shared interests of the Global South.
The two leaders had met in Brasília and South Africa last year and acknowledged the considerable advancements made in various aspects of their bilateral cooperation. These areas include trade and investment, technology, defense, energy, health, agriculture, and people-to-people connections. They also exchanged views on regional and global matters of mutual interest and underscored the significance of reformed multilateralism in tackling shared challenges.
India is slated to assume the BRICS presidency in 2026, following Brazil's leadership in 2025. During its presidency, India is expected to continue focusing on resilience, innovation, cooperation, and sustainability, while also amplifying the voice of the Global South in global governance reforms.
Brazil's President Lula intends to initiate discussions among BRICS nations to address tariffs imposed by former U.S. President Donald Trump.
Both countries are aiming to deepen their economic and financial ties, expressing a joint commitment to expand cooperation in areas such as sustainable development, local currency financing, climate finance, and capital markets. They also plan to strengthen collaboration within multilateral forums and international financial institutions, including the G20 Finance Track, BRICS, IBSA, the World Bank, the International Monetary Fund (IMF), the Asian Infrastructure Investment Bank (AIIB), and the New Development Bank (NDB).
Brazil and India are actively pursuing deeper trade ties, with Lula's upcoming visit to New Delhi expected to unlock new opportunities for trade and investment, particularly in fertilizers, agribusiness, and technology. Both governments have set a goal to increase bilateral trade to approximately USD 20 billion, demonstrating their commitment to strengthening economic relations. India is considered a "dream market" among Brazil's corporate leaders. Moreover, the two nations are working towards expanding the MERCOSUR-India trade agreement to reinforce trade and investment relations. This expansion aims to address non-tariff issues, signaling a comprehensive and modern approach to economic partnership.
India and Brazil also recognize the potential for increased bilateral cooperation in Science, Technology, and Innovation (STI). They plan to convene the Joint Commission on Scientific and Technological Cooperation to promote collaboration in priority areas like digital public infrastructure, artificial intelligence, quantum technologies, renewable energy, and outer space.
