ECONOMY
India, Brazil raise trade target from $20 billion to $30 billion by 2030
- IBJ Bureau
- Feb 22, 2026
India and Brazil have set a target to boost their bilateral trade to $30 billion by 2030, up from the previous goal of $20 billion.
Secretary (East) in the Ministry of External Affairs P Kumaran has informed that the decision has been taken during Brazilian President Luiz Inacio Lula da Silva’s visit to India, where he has emphasised that the earlier target was not ambitious enough.
“We had set a target during (the) PM’s visit to Brazil for increasing bilateral trade from $15 billion to $20 billion by 2030. But President Lula has mentioned to the PM that ($)20 billion does not seem ambitious enough and that we should therefore try and target something higher, like ($)30 billion by 2030. Mr Silva has also added that he has brought 11 ministers with 300 businessmen, which shows the kind of commitment there is to enhancing India-Brazil trade and investment. So, he has that said our ambition should be much bigger,” Mr Kumaran has added.
The two countries are looking to enhance cooperation in various sectors, including oil, gas and renewable energy, launching Brazilian satellites and building satellites together, biofuels and sustainable aviation fuel, agriculture, livestock and healthcare, as well as Yoga.
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