India and Brazil Agree to Strengthen Trade and Investment Partnership Across Key Sectors

New Delhi — India and Brazil on Thursday reaffirmed their commitment to deepen bilateral trade and investment ties across sectors such as energy, agriculture, healthcare, and technology, during a high-level meeting in New Delhi between Commerce and Industry Minister Piyush Goyal and Brazil’s Vice President and Minister of Development, Industry, Trade and Services, Geraldo Alckmin.

“Reviewed the full spectrum of bilateral trade ties while reaffirming our shared commitment to deepen cooperation and investment across diverse sectors,” Goyal said following the meeting. “Shared democratic values and a common vision for inclusive and sustainable growth underpin our partnership,” he added.

The minister also highlighted that the discussions took place on World Food Day, symbolically celebrating the India–Brazil partnership and the vital contribution of farmers from both nations to global food security.

Alckmin’s visit follows recent high-level exchanges between Indian and Brazilian leaders aimed at boosting economic collaboration. The Brazilian Vice President, who arrived in India on Wednesday for a two-day official visit, is accompanied by Cabinet ministers, senior officials, and a business delegation.

Soon after his arrival, Alckmin held talks with Defence Minister Rajnath Singh, in the presence of Brazilian Defence Minister Jose Mucio Monteiro Filho, where both sides reviewed their strategic partnership in defence cooperation.

According to a statement from India’s Ministry of Defence, the two countries discussed ongoing and prospective projects in military-to-military and defence industrial cooperation, including joint exercises, training programmes, and co-development of defence equipment.

During his visit, Alckmin is also scheduled to meet Vice President C.P. Radhakrishnan, External Affairs Minister S. Jaishankar, and Petroleum and Natural Gas Minister Hardeep Singh Puri, to explore new avenues of collaboration. He will also attend the India–Brazil Business Forum and visit the All India Institute of Ayurveda.

The Ministry of External Affairs (MEA) underscored that Brazil is India’s largest trading partner in South America. During Prime Minister Narendra Modi’s recent state visit to Brazil, both leaders agreed to establish a Ministerial-level Review Mechanism to monitor progress and set an ambitious bilateral trade target of $20 billion within the next five years.

“The visit of Vice President Alckmin provides an opportunity to review bilateral trade and investment, identify new priority sectors, and set a roadmap toward achieving the trade target, while further strengthening our multifaceted strategic partnership,” the MEA statement said.

With inputs from IANS