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As on : 31-Aug-2026
Economy - Reports
31-Aug-2026     17:00

India and Brazil assure expanding bilateral trade to USD30 billion by 2030

The 8th Meeting of the India-Brazil Trade Monitoring Mechanism (TMM) took place in Brasília, Brazil. It was co-chaired by Rajesh Agrawal, Commerce Secretary, and Tatiana Lacerda Prazeres, Secretary of Foreign Trade. The meeting emphasized the strong partnership between India and Brazil and their commitment to enhancing economic relations. Bilateral trade reached USD 15.07 billion in 2025–26. Both countries aim to increase this to USD 30 billion by 2030, focusing on diverse sectors like pharmaceuticals, chemicals, and machinery. They also reviewed the progress of the India–MERCOSUR Terms of Reference, highlighting the potential for expanding and modernizing the India–MERCOSUR Preferential Trade Agreement.

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