India and Brazil Set Bold USD 30 Billion Trade Target by 2030

India and Brazil have set a bilateral trade target of USD 30 billion by 2030. Prime Minister Modi and President Lula discussed implications of a U.S. Supreme Court ruling on tariffs, signed agreements in critical minerals, healthcare, and technology, and emphasized deepening strategic ties to address global challenges.

India and Brazil have committed to boosting their bilateral trade to USD 30 billion by 2030, following extensive talks between Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva. The discussions addressed the implications of a recent U.S. Supreme Court decision that nullified reciprocal tariffs.

In addition to setting the ambitious trade target, both countries signed nine agreements covering various sectors such as rare earth minerals, digital partnership, and healthcare. Modi and Lula stressed the need for stronger strategic engagement to navigate the current fragmented geopolitical landscape.

The talks highlighted mutual interests, with both leaders condemning terrorism and advocating for UN reforms. This visit by President Lula saw the two nations also focus on developing resilient supply chains and enhancing cooperation in technology and renewable energy.

(With inputs from agencies.)