INDIA–BRAZIL RELATIONSHIP

Historical Background

• Diplomatic relations established: 1948
• Relationship evolved into a Strategic Partnership
• Based on: Democratic values, South-South cooperation and other

India and Brazil are members of:

• BRICS (Brazil, Russia, India, China, South Africa)
• G20
• IBSA (India-Brazil-South Africa Dialogue Forum)
• BASIC (climate negotiations grouping)

Current Trade Status

• Brazil = India’s largest trading partner in Latin America
• Bilateral trade: ~ $12–15 billion
• India’s Exports to Brazil: Organic chemicals, pharmaceuticals, engineering goods, textiles, iron & steel products
• India’s Imports from Brazil: Crude oil, soya oil, gold, iron ore, sugar, manganese

Cooperation

Steel & Mining

• Brazil: Iron ore giant (Vale company)
• India: Growing steel producer
• Benefits: Technology sharing, investment in mining sectorsources

India launched a joint action plan with Brazil on:

• Digital technology, AI cooperation, Digital economy, Innovation ecosystem

Rare Earth & Critical Minerals

• India wants to diversify mineral sources
• Brazil has large unexplored rare earth reserves (~70% unexplored)

Biofuels & Renewable Energy

• Brazil = Global leader in biofuels (ethanol)
• India = Leader in solar & green energy
• Both cooperate in: Global Biofuels Alliance (2023)

Trade Expansion Target

• Current trade: $12–15 billion
• Proposed target: $30 billion by 2030
• Visa facilitation: 10-year business visas for Indians