India and Brazil reaffirm objective of expanding bilateral trade to USD 30 billion by 2030

The 8th Meeting of the India-Brazil Trade Monitoring Mechanism (TMM) was held in Brasília, Brazil. The meeting was co-chaired by Commerce Secretary, Ministry of Commerce & Industry, Rajesh Agrawal, and Secretary of Foreign Trade, Ministry of Development, Industry, Commerce and Services (MDIC), Tatiana Lacerda Prazeres. The meeting reflected on the strong institutional framework underpinning the India-Brazil Strategic Partnership and the shared commitment of both sides to deepen strategic and economic ties. Bilateral trade between India and Brazil has shown consistent growth, reaching USD 15.07 billion in 2025-26. Recognising the complementarities between the two economies, both sides reaffirmed their shared objective of expanding bilateral trade to USD 30 billion by 2030 through a more diversified, balanced and sustainable partnership, particularly in pharmaceuticals, chemicals, engineering goods and machinery. During the meetings, both sides reviewed progress on the ...