Lula and Modi set goal to boost India–Brazil trade to US$20 billion by 2030

Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva held a telephone conversation. The leaders exchanged views on regional and global issues of mutual interest. This is reported by ANI, a partner of TV BRICS.

During the call, the leaders agreed to advance cooperation in trade, technology, energy, defence, agriculture, health, and people-to-people relations. The two sides also set a target to increase bilateral trade to over US$20 billion by 2030 and agreed to expand the scope of the MERCOSUR-India agreement.

In a social media post, Modi described the conversation as “fruitful” and emphasised that a strong, people-centred partnership among Global South nations benefits everyone.

As part of ongoing diplomatic engagement, Lula is expected to visit India in early 2026. In preparation, Brazilian Vice President Geraldo Alckmin will travel to India in October for a trade monitoring meeting, accompanied by ministers and business representatives to promote collaboration in commerce, energy, critical minerals, health, and digital inclusion.