India and Brazil Set $30 Billion Trade Target by 2030

India and Brazil have established an ambitious target to increase bilateral trade to **$30 billion** by **2030**, a significant rise from the previous goal of **$20 billion**. This decision was announced during Brazilian President **Luiz Inacio Lula da Silva’s** visit to India, where discussions focused on strengthening cooperation across various sectors.

During a special briefing, **P Kumaran**, Secretary (East) in the Ministry of External Affairs, detailed that President Lula deemed the earlier target insufficient and advocated for a more ambitious goal. Kumaran explained, “We had set a target during the Prime Minister’s visit to Brazil for increasing bilateral trade from **$15 billion** to **$20 billion** by **2030**. But President Lula today mentioned to the Prime Minister that **$20 billion** doesn’t seem ambitious enough, and that we should therefore try and target something higher, like **$30 billion** by **2030**.”

The President’s delegation included **11 ministers** and **300 business leaders**, reflecting a strong commitment to enhancing trade and investment between the two nations. Kumaran emphasized the enthusiasm on both sides, indicating a readiness to explore new avenues for collaboration.

Expanding Cooperation Across Sectors

The two countries aim to enhance cooperation in several key sectors, including oil, gas, renewable energy, agriculture, and healthcare. Specific initiatives include launching Brazilian satellites, joint satellite development, and exploring biofuels and sustainable aviation fuel. Kumaran highlighted, “The number of areas identified is in great detail in the joint statement. For example, the energy oil and gas sector, space opportunities, and cooperation in bioenergy and agriculture are significant areas of focus. Traditional medicine and Yoga are also subjects of great interest in Brazil.”

President Lula’s visit, which took place from **February 18 to 20, 2026**, was marked by a traditional welcome at the **Rashtrapati Bhavan**. Following this, he held discussions with Indian Prime Minister **Narendra Modi** and his delegation at **Hyderabad House**. This visit marks Lula’s fifth trip to India as the President of Brazil and occurs seven months after Modi’s state visit to **Brasilia** on **July 8, 2025**.

Strengthening economic ties between India and Brazil is expected to enhance growth opportunities and foster a more robust partnership. Both nations recognize the potential benefits of increased trade and are committed to realizing this ambitious target.