India, Brazil aim $20 billion trade over next five years, says PM Modi

India and Brazil are looking to increase cooperation across different sectors, aiming to increase the trade between the two nations to $20 billion over the next five years.Prime Minister Narendra Modi and Brazil’s President Luiz Inacio Lula da Silva signed six agreements to expand the horizon of the cooperation between the two countries in sectors such as energy, agriculture and technology.
They agreed on doubling the trade in the next five years during a bilateral meeting on the sidelines of the BRICS Summit 2025. “In today’s discussions, we agreed to strengthen cooperation across all sectors. We have set a goal to raise bilateral trade to $20 billion over the next five years,” PM Modi said while addressing the media following the meeting on July 8.
The present trade value is around $13 billion between India and Brazil, as per PTI.MoUs signed across different sectors

The leaders agreed to increase cooperation in areas of terrorism, digital transformations, intellectual property and renewable energy, following are the Memorandum of Understandings or agreements signed between India and Brazil:

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1. Agreement on cooperation in combating international terrorism and transnational organised crime.
2. Agreement on the exchange and mutual protection of classified information.
3. MoU on cooperation for the sharing of successful large-scale digital solutions for digital transformation.
4. MoU on cooperation in renewable energy.
5. MoU on agricultural research between Brazilian Agricultural Research Corporation (EMBRAPA) and the Indian Council of Agricultural Research (ICAR).
6. MoU on cooperation in the field of intellectual property between Department for Promotion of Industry and Internal Trade (DPIIT) of India and Secretariat of Competitiveness and Regulatory Policy of Ministry of Development, Industry, Trade and Services (MDIC) of Brazil

Want India-Brazil relations to be colourful as carnival: PM Modi PM Modi further said that he wants the bilateral relations of India and Brazil to be deep and close with decreasing the visa barriers.

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“We want India-Brazil relations to be as colourful as carnival, as passionate as football, and as connecting hearts as samba, without long lines at the visa counter” PM Modi said.

“In this spirit, we will make efforts to facilitate people-to-people contacts between the two countries, especially tourists, students, sportspersons and businessmen,” he added.