Modi and Lula Pledge Deeper India-Brazil Ties as Trade Hits $15 Billion
Indian Prime Minister Narendra Modi congratulated Brazilian President Luiz Inácio Lula da Silva on his re-election, pledging to deepen the India-Brazil Strategic Partnership. Bilateral trade rose 25% to $15.21 billion in 2025, with Lula setting a target of $30 billion. Brazil is India's largest trading partner in Latin America and the Caribbean, with ties formalized as a strategic partnership in 2006. India exported $8.35 billion in goods to Brazil in 2025, while importing $6.85 billion, including crude oil and agricultural products. The two countries coordinate through IBSA and BRICS forums, advocating for developing economies in global institutions. Lula has proposed settling bilateral trade in local currencies and described India as a "democratic brother of the Global South."