India and Brazil set sights on US$30 billion trade milestone by 2030

South China Morning PostEN 1 min read 100% complete by Biman MukherjiFebruary 24, 2026 at 10:06 AM

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India and Brazil have agreed to strengthen trade cooperation, aiming for US$30 billion in bilateral trade by 2030, amidst global trade uncertainty. The agreement was reached during Brazilian President Lula da Silva's visit to India, where deals were signed concerning rare earths and digital infrastructure. Brazil holds the world's second-largest reserves of rare earth minerals, crucial for various technologies. The two countries, both founding members of the BRICS economic bloc, seek to promote a multipolar world with a larger role for developing nations. India assumed the BRICS chair from Brazil in January. The strengthened partnership aims to boost trade between India and Latin America.

Key Entities & Roles

Key Player Opposition Context

Observer Research Foundation 30% Vivek Mishra 40% United States 40% Latin America ×250% New Delhi 50% Brics ×370% Narendra Modi ×270% Luiz Inacio Lula da Silva 70% India ×790% Brazil ×690%

Keywords

india-brazil trade 100% trade cooperation 80% rare earths 70% developing economies 70% us$30 billion 60% brics bloc 60% multipolar world 50% latin america 40%

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Positive

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South China Morning Post

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90%

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India

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india-brazil trade trade cooperation rare earths developing economies us$30 billion brics bloc multipolar world latin america

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