2 days ago
India, Brazil Agree to Double Trade by 2030
India and Brazil want to trade twice as much with each other by 2030.
They set a goal of $30 billion in yearly trade.
Their trade was worth $15.07 billion in 2025–26.
They are focusing on medicines, farming, chemicals, machines and engineering products.
India wants clearer rules to sell affordable medicines in Brazil.
The countries are also discussing easier farm-product access and simpler customs paperwork.
A wider agreement with the MERCOSUR group could open more markets.
They also want more investment in energy, minerals, technology, infrastructure and small businesses.
India and Brazil set a $30 billion bilateral trade target for 2030.
Trade reached $15.07 billion in 2025–26, requiring roughly a doubling.
Priority sectors include pharmaceuticals, agriculture, chemicals, machinery and engineering goods.
The countries are working to modernize the India–MERCOSUR trade agreement.
Regulatory cooperation, electronic certificates, investment and small-business links were also discussed.
- Who
- The governments of India and Brazil, represented by Commerce Secretary Rajesh Agrawal and Brazil’s Secretary of Foreign Trade Tatiana Lacerda Prazeres.
- What
- They agreed to pursue $30 billion in bilateral trade by 2030 and discussed measures to expand trade and investment.
- Where
- Brasília, Brazil.
- When
- At the 8th Meeting of the India–Brazil Trade Monitoring Mechanism; the articles do not specify the meeting date. A pharmaceutical regulatory memorandum was signed in February 2026.
- Why
- To deepen economic ties, improve market access, increase investment and reduce practical barriers for businesses.
Key facts
- Trade target
- $30 billion in India–Brazil bilateral trade by 2030
- Current bilateral trade
- $15.07 billion in 2025–26
- India–MERCOSUR trade
- $20.84 billion in 2025
- Priority sectors
- Pharmaceuticals, agriculture, chemicals, engineering goods, machinery, energy and minerals
- Pharmaceutical cooperation
- A February 2026 memorandum created a framework for cooperation between India’s Central Drugs Standard Control Organisation and Brazil’s Agência Nacional de Vigilância Sanitária
- Trade facilitation
- The countries discussed mutual recognition of Electronic Certificates of Origin and cooperation among micro, small and medium enterprises
- Business participation
- More than 25 Indian businesses joined a high-level business delegation and reception in Brasília
Sources
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