PM Modi Sets $20 Billion Trade Target with Brazil by 2030:
During a state visit to Brazil on July 9, 2025, Prime Minister Narendra Modi set a bold goal to increase India–Brazil bilateral trade to $20 billion by 2030, up from the current $12.2 billion. Speaking at a Joint Press Conference alongside Brazilian President Luiz Inácio Lula da Silva in Brasilia, PM Modi outlined a roadmap to deepen economic cooperation and strategic ties between the two major Global South economies.PM Modi emphasized India’s intent to expand the Mercosur preferential trade agreement. Mercosur, a regional trade bloc comprising Brazil, Argentina, Paraguay, and Uruguay, currently has limited coverage with India. Modi stressed the need to include more products and enhance market access for Indian exporters.
