Brazil is India's largest trading partner in Latin America: Modi

Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva's talks have infused new energy into the strategic partnership between the two countries, with both sides expressing their commitment to taking bilateral trade to $20 billion (approximately Rs 1,814.5 billion) over the next five years.

In a joint statement issued after bilateral talks with Mr. Lula da Silva, who is in India to attend the AI Summit, Mr. Modi said the Brazilian President's visit has brought new strength to the India-Brazil strategic partnership.

The Prime Minister said, "President Lula da Silva's visit has brought new energy to our strategic partnership. Brazil is India's largest trading partner in Latin America. We are committed to taking our bilateral trade to $20 billion (approximately Rs 1,814.5 billion) over the next five years. Our trade is not just about numbers; it reflects mutual trust."

Mr. Modi said the large trade delegation accompanying Mr. Lula da Silva reflects the growing confidence in the relationship. He said India's economic cooperation will get a further boost with the expansion of the Mercosur trade agreement. He said, "We are also prioritizing our cooperation in areas like artificial intelligence, supercomputing, semiconductors, and blockchain. Both countries believe that technology should be inclusive and serve as a bridge for mutual development."

He said energy cooperation has been a strong pillar of our relationship. Along with hydrocarbons, we are also accelerating cooperation in areas like renewable energy, ethanol blending, and sustainable aviation fuel. Brazil's participation in the "Global Biofuel Alliance" reflects our shared commitment towards a green future.

The Prime Minister said our cooperation in the fields of technology and innovation is important not just for both countries but for the entire Global South. He said both countries are working on establishing a 'Center of Excellence' for Digital Public Infrastructure (DPI) in Brazil. He also welcomed Brazil's proposal for co-chairing the 'Coalition for Disaster Resilient Infrastructure' (CDRI). He said, "I congratulate President da Silva on this initiative."

Earlier, while welcoming President da Silva and his delegation, Mr. Modi appreciated the warm reception he received during his visit to Brazil last year. He termed Mr. da Silva's leadership as crucial in strengthening bilateral ties. After bilateral talks at Hyderabad House, several agreements were signed between India and Brazil in the presence of the two leaders.

Prime Minister Modi said, "India-Brazil relations have benefited from President da Silva's vision and leadership over the years. I have had the opportunity to meet him several times in recent years, and during each meeting, I have sensed his deep friendship and trust towards India." Mr. Modi said the agreement in the area of rare minerals and metals is a significant step towards a strong supply chain. Our cooperation in the defense sector is also continuously growing. This is a great example of mutual trust and strategic coordination. He said, "We will continue to strengthen this mutually beneficial partnership."

The Prime Minister said both countries are giving new dimensions to their partnership in agriculture and animal husbandry, keeping in mind the requirements of the future. He said, "The Center of Excellence for oilseeds, pulses, and integrated agriculture in Brazil will be an important step in this direction."

Mr. Modi said there are immense possibilities for cooperation between the two countries in the health and pharmaceutical sectors. He said, "We will work to increase the supply of affordable and quality medicines from India to Brazil. Additionally, Ayurveda and traditional medicine will also be promoted in Brazil to promote holistic healthcare."

The Prime Minister said India and Brazil will continue to raise their voice for the Global South. He said, "The partnership between India and Brazil has been strong and effective at the global level. As democratic countries, we will continue to push forward the priorities and aspirations of the Global South." He added that when India and Brazil work together, the voice of the Global South becomes even stronger.

He emphasized the need to resolve conflicts through dialogue, saying, "We understand that every issue should be resolved through dialogue and diplomacy. India and Brazil agree that terrorism and its supporters are enemies of humanity. We also agree that reform in global institutions is necessary to address contemporary challenges. We will continue to work together in this direction."

Mr. Modi expressed hope that Mr. da Silva's visit will further deepen our strategic partnership and create new horizons for cooperation in the years to come.