In a rousing address, Brazil’s President Luiz Inacio Lula da Silva forecasted India-Brazil trade hitting $30 billion by 2030—doubling from $15 billion today. Delivered at the high-profile India-Brazil Business Forum in New Delhi, his words ignited hopes for exponential economic collaboration.
The event, backed by FICCI, DPIIT, Brazil’s ministries, and ApexBrasil, showcased strategic alignment. Lula reflected on 2006’s $2.4 billion baseline, now eclipsed by robust 25% annual growth. Still, he cautioned, true capacity remains unleashed.
‘Our shared future transcends oceans,’ Lula proclaimed, pledging mutual dedication. Piyush Goyal, India’s Commerce Minister, reinforced the goal, deeming $15 billion a starting point. Brazil’s critical minerals meet India’s manufacturing might, fortifying global chains together.
Goyal spotlighted Brazil’s leadership in agribusiness, aerospace, automotive, and tech—prime for India partnerships. He beckoned Brazilian companies to India’s vibrant market. Concrete outcomes included bioenergy and iron ore pacts, plus a $500 million NMDC-Vale-Adani facility.
Pharmaceutical ventures promise joint innovation in oncology and beyond. Aerospace breakthrough: Embraer-Adani assembly for E175 jets in India. Trade promotion MoU between ApexBrasil and FICCI seals broader cooperation.
Advocating for developing worlds’ economic rights and IP equity, the duo charts a bold path. This forum marks a pivotal chapter, driving India-Brazil relations toward unprecedented prosperity.