Brazil is targeting bilateral trade with India of $20 billion by 2026, as President Luiz Inacio Lula da Silva undertakes an official visit to New Delhi focused on strengthening commercial and strategic ties with one of the world’s fastest-growing major economies, according to TV BRICS.
Trade between the two countries reached $15.2 billion in 2025, reflecting a 25% increase compared with 2024. The latest target builds on commitments made during high-level engagements last year and includes plans to expand the number of traded products from roughly 1,500 to 2,000, TV BRICS reported, citing Brasil 247.
The move signals a broader effort by both sides to diversify trade flows and deepen cooperation across multiple sectors.
Brazilian exports to India rose to $6.9 billion in 2025, up 30% year on year and marking the highest level recorded in two decades. Between 2021 and 2025, exports to the Indian market expanded at an average annual rate of 9.4%, outperforming the overall growth pace of Brazil’s global exports during the same period.
Key export categories include sugar and molasses, crude petroleum oils, vegetable oils and fats, raw cotton, and iron ore and concentrates, with rising demand for iron ore linked to India’s expanding infrastructure and construction activity.
Brazilian authorities have identified 378 potential export opportunities across the Indian market, covering mineral fuels, non-edible raw materials, machinery, transport equipment, food and beverage products, healthcare goods, and industrial inputs.
Additional prospects are tied to agribusiness technologies and renewable energy solutions, areas aligned with India’s infrastructure modernization and energy transition agenda.
On the import side, Brazil purchased $8.4 billion worth of Indian goods in 2025, a 21% increase from the previous year. Imports remain concentrated in higher value-added segments such as pharmaceuticals, chemical products, and automotive components, underscoring India’s growing role in advanced manufacturing supply chains.
Lula’s visit highlights India’s position as a priority partner within Brazil’s broader strategy to strengthen South-South economic cooperation and expand engagement with emerging economies. Separately, earlier reports indicated that this year’s Rio de Janeiro Carnival is expected to generate an estimated economic impact of €1.06 billion for the city’s economy.
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