Page 32 - The Indian EYE 102425

BUSINESS & TRADE OCTOBER 24, 2025 | The Indian Eye 32

India and Brazil Deepen Energy and Trade Ties

as BRICS Pushes for South-South Synergy

In a sign of growing South-South cooperation under the BRICS framework, India and Brazil are expanding

their strategic partnership across energy, defence, and trade, setting the stage for stronger economic
integration between Asia and Latin America

OUR BUREAU The discussions align with Bra-
zil’s broader aim to diversify its
Mumbai / New Delhi
global partnerships and India’s push
ndia and Brazil are taking sig- to strengthen ties with the Global
nificant steps to enhance collab- South—a theme that has gained
Ioration in the energy sector, a traction within BRICS, which now
key pillar of their bilateral relations. includes several new members such
After meeting Brazilian Vice Presi- as Saudi Arabia, Egypt, and the UAE.
dent Geraldo Alckmin in New Delhi, Alckmin’s visit follows the sixth
Union Petroleum and Natural Gas India-Brazil Strategic Dialogue held
Minister Hardeep Singh Puri said in New Delhi earlier this month,
that India currently imports around where both sides discussed coopera-
USD 2.5 billion worth of crude oil tion in defence, energy, critical min-
annually from Brazil. He emphasized erals, and pharmaceuticals, as well
that the relationship with Brazil’s as coordination in global platforms
state oil giant Petrobras and other such as BRICS, IBSA, and COP-30,
energy players “has room for much which Brazil will host next year.
greater cooperation.” The visit is expected to lay the
“We purchase approximate- groundwork for President Luiz In-
ly USD 2.5 billion worth of crude acio Lula da Silva’s state visit to In-
annually from Brazil. Many of our dia in February 2026, a move that
companies have entered into term could elevate the relationship to a
agreements with Petrobras, and I new strategic level. During his press
think we could buy more,” Puri said. briefing, Alckmin said, “We were
He added that India exports refined very happy to receive Prime Minister
products like high-speed diesel and Modi in Brazil in July 2024, and now
aviation fuel to Brazil, underscoring President Lula will visit India early
that “there’s tremendous scope for Union Minister of Commerce & Industry Piyush Goyal meets Brazil’s Vice President next year.”
further enhancement.” and Minister of Development, Industry, Trade, and Services Geraldo Alckmin, The strengthening of India-Bra-
The recent MoU between zil relations comes at a time when
ONGC and Petrobras on onshore in New Delhi on Thursday. (@PiyushGoyalX/ANI Photo) BRICS nations are seeking to build
exploration is seen as a milestone, alternative economic linkages that
marking renewed engagement in hy- and regulatory cooperation. A tech- Beyond trade and energy, the reflect a multipolar global order.
drocarbons. Puri, who earlier served nical dialogue will begin soon, with two countries are expanding cooper- With India driving digital and man-
as India’s ambassador to Brazil, the aim of concluding talks within ation into new and strategic domains. ufacturing growth and Brazil leading
highlighted the growing cooperation a year. According to India’s Com- During his meeting with Defence in biofuels and green energy, the
in biofuels and clean energy, noting merce Ministry, both countries are Minister Rajnath Singh, Vice Presi- partnership reflects a shared vision
that both countries are founding determined to make the PTA more dent Alckmin discussed the growing for sustainable development.
members of the Global Biofuels Alli- comprehensive, benefitting a larger importance of defence and security As both countries push for great-
ance, which now includes 32 nations. share of bilateral trade. collaboration. Singh called it “one er representation of developing na-
Trade relations between India Brazil’s role as a core member of of the five key pillars of India-Brazil tions in multilateral bodies, their co-
and Brazil are being re-energized MERCOSUR, along with Argentina, relations,” citing shared democratic operation within BRICS and beyond
through a proposed expansion of Paraguay, and Uruguay, gives India values and aspirations to play larger reflects the emergence of a South-
the India-MERCOSUR Preferential an important entry point into the roles in global governance. South economic axis focused on sus-
Trade Agreement (PTA). During his Latin American market. The trade Both nations are also exploring tainability, innovation, and inclusive
meeting with Commerce and Indus- bloc represents a combined GDP of joint ventures in defence manufactur- growth.
try Minister Piyush Goyal, Vice Pres- over USD 2.7 trillion, and India’s ex- ing, research partnerships in pharma- With the upcoming Lula-Mo-
ident Alckmin reaffirmed Brazil’s isting agreement with it dates back to ceuticals and digital technology, and di summit expected to deliver fresh
commitment to strengthening ties 2003. collaboration in artificial intelligence agreements, India and Brazil are
within the BRICS and MERCOSUR Earlier, during Prime Minister (AI) and space research. Alckmin poised to transform their bilateral re-
frameworks. Narendra Modi’s state visit to Bra- met India’s Vice President CP Rad- lationship into a model of cross-con-
The two sides agreed to accel- zil in July, both leaders set a goal hakrishnan to discuss ways to improve tinental partnership—one that not
erate negotiations to expand tariff of raising bilateral trade from USD connectivity, promote investment, only strengthens BRICS cohesion
preferences and include non-tariff 12.2 billion to USD 20 billion over and expand cooperation in health- but also reshapes the economic nar-
issues such as standards, logistics, the next five years. care, agriculture, and digitisation. rative of the Global South.

www.TheIndianEYE.com