Brazil’s Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, will meet India’s Union Minister of Commerce and Industry, Piyush Goyal, for the first Trade Ministerial Review Meeting aimed at boosting bilateral trade and investment.
Key Highlights
- India and Brazil to strengthen trade, defence, and investment ties, targeting USD 20 billion bilateral trade in five years.
- Geraldo Alckmin meets Indian ministers to discuss cooperation across defence, petrochemicals, MSMEs, and industrial sectors during his India visit.
Alckmin, accompanied by senior officials, ministers, and a business delegation, arrived in India on Wednesday for a two-day visit. Soon after his arrival, he met Defence Minister Rajnath Singh and Brazilian Defence Minister Jose Mucio Monteiro Filho in New Delhi to discuss defence collaboration, including co-development and co-production of defence equipment, joint exercises, and training initiatives.
The visit underscores the strategic partnership between India and Brazil, with both nations seeking to expand cooperation in defence, trade, and industrial sectors. Alckmin will also meet Vice President C.P. Radhakrishnan, External Affairs Minister S. Jaishankar, and Petroleum Minister Hardeep Singh Puri to explore additional areas of collaboration.
He is expected to participate in the India-Brazil Business Forum and visit the All India Institute of Ayurveda during his stay.
According to the Ministry of External Affairs, Brazil remains India’s largest trading partner in South America, with both countries setting a target to raise bilateral trade to USD 20 billion within the next five years.
Also Read: India & Saudi Arabia Strengthen Chemicals and Petrochemicals Ties
This meeting follows the seventh India-Brazil Trade Monitoring Mechanism (TMM) held on October 7, where senior officials from both sides, including Commerce Secretary Rajesh Agrawal and Brazilian Secretary of Foreign Trade Tatiana Lacerda Prazeres, discussed expanding the India-MERCOSUR PTA, improving market access, and enhancing collaboration in pharmaceuticals, MSME, petrochemicals, and finance.
The ongoing dialogue highlights the commitment of both nations to strengthening their economic and strategic partnership, fostering investment, and identifying new growth opportunities across priority sectors.
