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    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.

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