Trade – Modi and Lula Set Ambitious Economic Roadmap

Speaking at a joint press conference in New Delhi, Prime Minister Modi said discussions with President Lula were driven by a shared resolve to strengthen cooperation across sectors, from commerce to advanced technology. He described the talks as forward-looking and rooted in mutual trust.

Leaders Emphasize Strong Political Trust

Welcoming President Lula and his delegation, Prime Minister Modi highlighted the Brazilian leader’s long-standing engagement with India. He noted that their past meetings have reflected warmth and confidence in the relationship. President Lula’s presence at the Global AI Impact Summit in the capital, he said, added fresh momentum to the strategic partnership.

President Lula’s state visit comes months after Prime Minister Modi traveled to Brasília in July 2025, marking the first visit by an Indian prime minister to Brazil in over five decades. Officials view the exchange of high-level visits as a sign of growing diplomatic engagement.

Earlier in the day, the two leaders held delegation-level talks covering trade, innovation, climate cooperation, and global governance. Senior Indian officials present included External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal, and National Security Adviser Ajit Doval, among others.

Trade Target Set at 20 Billion Dollars

Prime Minister Modi underlined that Brazil remains India’s largest trading partner in Latin America. He said both governments are committed to raising the trade volume to more than 20 billion US dollars within five years.

A sizeable business delegation accompanied President Lula, including leading Brazilian CEOs who are expected to participate in a business forum during the visit. According to Indian officials, the presence of corporate leaders reflects investor confidence in expanding commercial opportunities between the two economies.

The proposed expansion of the India-MERCOSUR trade agreement was also discussed. The leaders expressed hope that a broader framework would open new sectors for cooperation and make supply chains more resilient.

Technology and Digital Cooperation

Technology emerged as a key pillar of the talks. Prime Minister Modi announced that the two countries are working toward establishing a Centre of Excellence for Digital Public Infrastructure in Brazil. The initiative is expected to facilitate knowledge-sharing in digital governance systems that India has developed in recent years.

Both sides also explored collaboration in artificial intelligence, supercomputing, semiconductors, and blockchain technology. The leaders agreed that technological advancement should be inclusive and accessible, particularly for developing nations in the Global South.

Officials said cooperation in innovation and research could help strengthen start-up ecosystems and foster joint ventures in high-tech manufacturing.

Energy and Climate Commitments

Energy cooperation featured prominently in the discussions. In addition to hydrocarbons, India and Brazil are looking to accelerate collaboration in renewable energy, ethanol blending, and sustainable aviation fuel.

Prime Minister Modi welcomed Brazil’s active participation in the Global Biofuel Alliance, describing it as a shared commitment to environmentally sustainable growth. He also appreciated Brazil’s proposal to co-chair the Coalition for Disaster Resilient Infrastructure, noting that Brazil’s experience in managing natural disasters would add value to the initiative.

Earlier on Saturday, President Lula was accorded a ceremonial reception at the forecourt of Rashtrapati Bhavan. He received a Guard of Honour and was welcomed by Prime Minister Modi and President Droupadi Murmu. The Brazilian leader also paid homage at Rajghat.

The visit is expected to conclude with further interactions between government officials and business leaders, reinforcing what both sides described as a partnership built on shared democratic values and economic opportunity.