India and Brazil have reaffirmed their $30 billion bilateral trade target for 2030, while Brazil agreed to expand market access for Indian pharmaceutical products.

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• India and Brazil have reaffirmed their commitment to increase bilateral trade to $30 billion by 2030 through stronger economic cooperation.
• Bilateral trade reached $15.07 billion in 2025-26, continuing its steady growth and highlighting the expanding economic relationship between both countries.
• Pharmaceuticals, chemicals, engineering goods and machinery were identified as priority sectors for diversifying and expanding bilateral trade and commercial partnerships.
• Brazil agreed to work towards wider market access and more predictable regulatory procedures for Indian pharmaceutical products in its domestic market.
• India and Brazil discussed finalising the India-MERCOSUR Terms of Reference to expand and modernise the existing preferential trade agreement.
• Both countries explored greater cooperation in agriculture, critical minerals, renewable energy, infrastructure, digital services, logistics and manufacturing sectors.
• India and Brazil reaffirmed continued coordination through multilateral platforms including BRICS, the G20 and the World Trade Organization.
• Both sides welcomed the opening of an ApexBrasil office in New Delhi to strengthen business connections and encourage Brazilian investment in India.