Brazil's President Lula Says India Brazil Trade Could Reach $30 Billion

Описание: Brazilian President Luiz Inacio Lula da Silva highlighted the rapid growth in trade between India and Brazil during his visit to New Delhi. Reflecting on his first visit years ago, Lula noted that bilateral trade stood at just $2.4 billion at the time. Today, that figure has risen to $10.5 billion.

Following discussions with Prime Minister Narendra Modi, both leaders set an ambitious target of reaching $20 billion in trade by 2030. Lula expressed confidence that the two nations could surpass that goal and potentially achieve $30 billion in bilateral trade, citing the strong economic potential and complementary industrial needs of both countries.

He emphasised opportunities in emerging industries and the healthcare sector, underlining the growing strategic partnership between the two economies. During the visit, seven memoranda of understanding and agreements were signed, covering various sectors of cooperation.

The remarks signal a deepening India Brazil partnership, with both countries aiming to expand trade, strengthen industrial collaboration, and boost long-term economic engagement. The visit underscores the shared ambition to transform bilateral ties into a major pillar of South South cooperation in the coming decade.

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