India and Brazil Set Ambitious Trade Goals and Forge New Partnerships

India and Brazil have set a goal to double their bilateral trade to USD 30 billion by 2030. During discussions between Prime Minister Narendra Modi and President Luiz Inacio Lula da Silva, they signed agreements in critical minerals and digital partnership, and talked about defense and strategic collaboration.

India and Brazil have announced an ambitious plan to bolster their bilateral trade to USD 30 billion annually by 2030. The agreement was formalized during a series of comprehensive talks between India's Prime Minister Narendra Modi and Brazil's President Luiz Inacio Lula da Silva on Saturday.

Among the key outcomes of the discussions were a set of nine pacts, including significant agreements on critical minerals and digital partnerships. Both leaders expressed a common vision to enhance strategic ties to cope with the challenges of a shifting geopolitical landscape.

Prime Minister Modi and President Lula emphasized the importance of deepening defense cooperation and expanding trade relations, reflecting a mutual commitment to fostering global peace and addressing issues like terrorism and global institutional reforms.

(With inputs from agencies.)