India-Brazil Set Ambitious Trade and Mineral Pact Amid Strategic Alliances

India and Brazil set a target of USD 20 billion in annual bilateral trade within five years and signed a pact for critical minerals cooperation. Prime Minister Modi and President Lula emphasized stronger ties in defense, energy, and digital infrastructure while advocating global institutional reforms and denouncing terrorism.

In a significant diplomatic advancement, India and Brazil have set an ambitious target of achieving USD 20 billion in bilateral trade within the next five years. The commitment, announced after discussions between Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva, also includes a pivotal agreement on critical minerals.

Following comprehensive talks, both leaders expressed their intention to strengthen cooperation in various sectors, including defense, renewable energy, and digital infrastructure. They underscored the importance of a united front against terrorism and the need for reforming global institutions to address modern challenges effectively.

President Lula's visit to India highlights the strategic partnership's importance, focusing on collaborations in technology and sustainable energy. Both nations aim to elevate their position on the global stage, advocating for fair representation in global affairs and technological advancements benefiting the Global South.

(With inputs from agencies.)