PM Modi, Prez Lula de Silva set target of 20 Billion Dollar for India-Brazil bilateral trad

ANI

Brasilia (Brazil), July 09, 2025 (ANI): Highlighting key take away from BRICS Summit 2025, MEA said that PM Modi and Brazil’s President Lula da Silva agreed upon take the bilateral trade to 20 Billion dollars in next five years. P Kumaran, Secretary (East) said, “The two leaders set a bilateral trade target of 20 billion dollars to be achieved in the next five years. They also decided to elevate the level of trade talks and establish a ministerial-level mechanism for monitoring trade, commerce and investment-related matters. PM requested the support of Brazil in expanding the India-Mercosur trade agreement.”

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00:00The two leaders noted that ample opportunities lie ahead for diversifying and expanding bilateral trade.

00:08They set a bilateral trade target of $20 billion to be achieved in the next five years.

00:15They also decided to elevate the level of trade talks and establish a ministerial level mechanism

00:22for monitoring trade, commerce and investment related matters.

00:25The Prime Minister requested the support of Brazil in expanding the India-Mercosur preferential trade agreement,

00:35especially given the fact that Brazil is the pro-term president for the rest of the year,

00:42noting that such an expansion can bring mutual benefits for both sides.

00:46President Lula conveyed Brazil's support towards expansion of the India-Mercosur PTA

00:55and instructed his team to work towards such an expansion.

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