‘Reflection of trust’: PM Modi, Brazil President Lula sign rare earths deal; aim for trade beyond $20 billion

Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva on Saturday set a target to raise bilateral trade to $20 billion within five years and signed key agreements in areas including rare earth minerals, digital partnership and mining cooperation. The two countries sought to deepen their strategic and economic ties.Addressing a joint press conference in New Delhi after delegation-level talks, PM Modi gave details on the discussions, revealing that the two nations’ leaders focused on expanding cooperation across sectors and strengthening the India–Brazil strategic partnership.“I am delighted to welcome President Lula and his delegation to India. India-Brazil relations have long benefited from President Lula’s vision and inspiring leadership,” PM Modi said. “We are committed to taking bilateral trade beyond $20 billion in the next five years. Our trade is not just a figure; it’s a reflection of trust.”He added that the expansion of the India–MERCOSUR trade agreement would further boost economic cooperation, noting that Brazil remains India’s largest trading partner in Latin America.Key agreements signed across strategic sectorsThree agreements were exchanged between the two sides, covering digital cooperation, critical minerals and mining supply chains:

PM Modi described the critical minerals agreement as significant amid global supply chain concerns. “The agreement is a major step towards building resilient supply chains,” he said.The two sides also agreed to expand cooperation in emerging technology sectors. “I am pleased that we are working on establishing a Centre of Excellence for Digital Public Infrastructure in Brazil. We are also prioritising our cooperation in areas such as artificial intelligence, supercomputers, semiconductors, and blockchain,” PM Modi said.

Technology, energy and green cooperation expand

Energy cooperation emerged as a key pillar of the talks, with both sides agreeing to accelerate collaboration in renewable energy and sustainable fuels.“Energy cooperation has been a strong pillar of our relationship. In addition to hydrocarbons, we are also accelerating cooperation in several areas, including renewable energy, ethanol blending, and sustainable aviation fuel,” PM said.He also welcomed Brazil’s participation in global climate initiatives. “Brazil’s active participation in the Global Biofuel Alliance reflects our shared commitment to a green future,” the prime minister added.Lula calls India ‘digital superpower’, backs stronger strategic tiesPresident Lula described the meeting as a partnership between two major global powers of the Global South and highlighted the strategic importance of India–Brazil relations.“My dear friend Modi, it is a reason of happiness for me to return to this country for the sixth time. The meeting between India and Brazil is a meeting of superlatives. We are not just the two biggest democracies of the Global South. This is a meeting of a digital superpower with a renewable energy superpower,” Lula said.He said both countries share common positions on global governance and multilateral cooperation.“A turbulent global scenario requires our countries to strengthen and deepen our strategic dialogue. India and Brazil are crucial voices at the UN, the WTO and G20,” he said.Lula came to India on a state visit accompanied by a large delegation, including top Brazilian business leaders, who are expected to participate in a business forum aimed at expanding commercial partnerships.Earlier in the day, he was accorded a ceremonial welcome at Rashtrapati Bhavan and held delegation-level talks with Modi at Hyderabad House. He also paid tribute to Mahatma Gandhi at Rajghat.The visit follows PM Modi’s trip to Brasilia in July 2025, the first visit by an Indian prime minister to Brazil in over five decades, and reflects growing momentum in bilateral ties as both countries seek to strengthen trade, technology and strategic cooperation.