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Brazil seeks strategic alliance with India to boost economic and tech ties

Brazilian President Luiz Inacio Lula da Silva has announced plans to form a strategic alliance with India aimed at fostering political, economic, and technological cooperation between the two nations. Following the conclusion of Vice President Geraldo Alckmin’s recent visit to India, Lula emphasised the importance of strengthening bilateral ties with New Delhi. Lula, in a video message, said the visit of Vice President Geraldo Alckmin to India, in preparation for his trip early next year, is very important because India has an exceptional market. He added, they will create a strategic alliance with India and develop both Brazilian and Indian economies. The Brazilian President’s remarks came a day after Vice President Geraldo Alckmin’s visit to India. During his visit to India, Alckmin clarified that India’s and Brazil’s cooperation is complementary and is not competitive. Lula also stated that the Vice President's visit focused on strengthening business relations, as numerous Brazilian companies are interested in entering the Indian market.

Meanwhile, economic engagement between India and Brazil has continued to grow. During Prime Minister Narendra Modi's state visit to Brazil in July, the two leaders set a target of raising bilateral trade to USD 20 billion within five years. In FY 2024-25, merchandise trade between the two nations reached USD 12.19 billion, making Brazil India's largest trading partner in Latin America and the Caribbean, according to the Ministry of Commerce and Industry


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