India, Brazil Set US$ 30 Billion Trade Target by 2030
- IBEF
- February 23, 2026
India and Brazil have set an ambitious target to enhance bilateral trade to US$ 30 billion by 2030, marking a new beginning in their efforts to enhance economic cooperation between the two emerging economies. The target was set during Brazilian President Mr. Luiz Inacio Lula da Silva visit to India, where both countries felt that the previous target of US$ 20 billion was not ambitious enough. According to sources from the Ministry of External Affairs, the initiative is aimed at enhancing commercial relations and exploring new opportunities in priority sectors. This new target is expected to boost economic growth and strategic engagement between the two countries, marking their collective efforts to enhance trade partnerships and develop new global supply chains.
The two countries are now focusing on developing new areas of cooperation, including oil and gas, renewable energy, biofuels, sustainable aviation fuel, agriculture, livestock, healthcare, and even the development of satellites. The plans to develop Brazilian satellites and develop new space technologies mark a new beginning in innovation-driven partnerships. Moreover, cultural exchanges such as Yoga development are also being considered along with economic initiatives, marking a new beginning in their relationship. With the new ambitious target, India and Brazil are expected to explore new opportunities in investment, technology, and sectoral development, while also strengthening South-South cooperation.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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