India-Brazil Forge Stronger Ties with $20 Billion Trade Target

India and Brazil aim to double their bilateral trade to $20 billion annually over five years. Six agreements in energy, agriculture, and counter-terrorism bolster their cooperation. Leaders Modi and Lula emphasize zero tolerance for terrorism, and aim to facilitate people-to-people contacts, especially focusing on tourism, sports, and business.

India and Brazil set a goal to nearly double their annual bilateral trade to USD 20 billion in the next five years, with six new agreements inked across sectors like energy and agriculture. This development was announced following discussions between India's Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva.

During the talks, both leaders underscored their joint stance against terrorism, emphasizing zero tolerance and a rejection of double standards. The agreements include a pact to combat international terrorism and organized crime, alongside memorandums on renewable energy, digital transformation, and agricultural research.

Prime Minister Modi, after attending the BRICS summit in Rio de Janeiro, expressed aspiration for enhanced emotional and cultural ties akin to Brazil's vibrant carnival. He highlighted the importance of people-to-people connections, stressing ease of interactions for tourists, students, and businesses, while acknowledging the strategic partnership's significance in global diplomacy.