Modi-Lula Meet in New Delhi: Trade Targets, Minerals Pact & Digital Partnership
Modi-Lula Meet in New Delhi: Trade Targets, Minerals Pact & Digital Partnership
Modi and Lula push to surpass $20B trade by 2030, seal minerals, steel deals, and launch a joint digital partnership in New Delhi.
Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva met in New Delhi to chart a path for deeper ties, signing agreements on rare earths, critical minerals, and steel mining with an eye on expanding trade beyond the current target of $20 billion by 2030. A joint declaration and action plan on a digital partnership for the future was unveiled as the leaders underscored the growing convergence between two of the strongest voices from the Global South.
In remarks after the talks, Modi highlighted the practical gains from closer cooperation, saying the agreements will diversify supply chains and strengthen both economies. “Brazil is India’s biggest trading partner in India, and we have committed to going beyond $20 billion dollars in the next five years. Our trade is not just a number, it is a symbol of trust,” he said. He also stressed that when India and Brazil work together, the voice of the Global South becomes stronger and more confident.
The discussions covered expanding the India-Mercosur Preferential Trading Agreement and accelerating investments in renewable energies and critical minerals. The agreements on rare earths and critical minerals aim to reduce dependence on any single supplier and to diversify processing pipelines away from traditional centers of gravity. The two sides also touched on continuing cooperation in a biofuel alliance that began in 2023, a project that has had to adapt to changing global energy priorities.
A central outcome of the visit was a joint declaration paired with an action plan to build a robust digital partnership for the future. The plan signals a shared objective to leverage digital technologies to boost trade, finance, and collaboration across sectors, reinforcing a broader strategy of technological linkages between the two countries. The leaders noted that such partnerships will further integrate their economies into global value chains and support sustainable development goals.
The talks come at a time of shifting global trade winds and amid a backdrop of evolving regional alignments. By strengthening mineral supply chains, expanding bilateral commerce, and embracing digital cooperation, New Delhi and Brasília are signaling a renewed push for pragmatic, issue-based diplomacy that prioritizes tangible outcomes for workers, manufacturers, and innovators on both sides.
