President Lula da Silva of Brazil envisions bilateral trade with India soaring to $30 billion by 2030, up from $15 billion, as stated at New Delhi’s India-Brazil Business Forum. This projection highlights accelerating momentum in South-South cooperation.
Jointly organized by FICCI, DPIIT, Brazilian development and trade bodies, and ApexBrasil, the forum fostered dialogue among industry titans. From $2.4 billion in 2006, trade has ballooned with 25% gains last year, yet Lula sees room for more.
Geography poses no barrier; commitment does the heavy lifting, he noted. Minister Piyush Goyal concurred, pushing for rapid scaling. Complementary assets—Brazil’s niobium, lithium, iron ore and India’s tech ecosystem—promise supply chain resilience.
Brazil’s agro, aero, auto, and digital expertise aligns seamlessly with India’s needs, Goyal observed, inviting investments. Highlights: $500 million iron ore project by NMDC, Vale, Adani; pharma R&D for critical drugs; Embraer-Adani jet assembly line.
ApexBrasil-FICCI agreement targets trade amplification. Leaders stressed defending emerging economies and equitable IP frameworks. With pacts signed and visions aligned, India-Brazil ties are set to redefine global trade landscapes.