India-Brazil Bilateral Trade Context: The target is to increase the value of bilateral trade between India and Brazil to $20 billion in the next 5 years from Rs. 1.81 lakh crore. The current (2024–25) bilateral trade value is $12 billion, with exports of $6.77 billion and imports of $5.47 billion. A key agreement on the purchase of rare earth minerals was signed. Several agreements were signed in sectors including steel, trade, MSMEs, health, traditional medicine. Both countries pledged to strengthen cooperation in sectors such as defence, energy, technology, investment. Efforts are underway to set up an eight-member public infrastructure centre in Brazil. Priority will be given to AI, supercomputers, semiconductors. Cooperation in hydrocarbons, renewable energy, and ethanol blends accelerated.
