New Delhi: Prime Minister Narendra Modi on Saturday announced that India and Brazil have set a target of taking bilateral trade beyond $20 billion over the next five years.
The decision was taken during high-level talks with Brazilian President Luiz Inacio Lula da Silva, who is on a visit to India. The meeting focused on strengthening strategic cooperation in technology, energy, defence and agriculture.
Addressing the media, Modi said Brazil is India’s largest trading partner in Latin America and described the economic partnership as a reflection of deep mutual trust between the two countries.
President Lula is visiting India to participate in the AI Impact Summit and to advance bilateral engagements.
During the talks, both leaders discussed expanding cooperation under the MERCOSUR trade framework. They also agreed to establish a Centre of Excellence for Digital Public Infrastructure in Brazil.
The two sides pledged to enhance collaboration in artificial intelligence, semiconductors, supercomputing and blockchain technologies. Modi said the growing technology partnership would benefit not only India and Brazil but also countries of the Global South.
