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Informist, Saturday, Feb. 21, 2026

 

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--India, Brazil sign MoU to strengthen, secure steel supply chain 
--PM Modi: Committed to up trade with Brazil to over $20 bln in 5 yrs 
--CONTEXT: PM Modi's comments at joint press meet with Brazil president 
--PM Modi: To set up centre of excellence for digital public infra in Brazil 
--PM Modi: Giving support in AI, semiconductor, blockchain segment to Brazil 
--PM Modi:India, Brazil increasingly supporting each other in defence sector 
--PM Modi: India will continue to strengthen partnership with Brazil 
--PM Modi: To support Brazil in health sector, give quality medicines

 

NEW DELHI – The ministry of steel and Brazil's ministry of mines and energy Saturday signed a memorandum of understanding to increase cooperation in the mining and minerals segment of the steel sector. The MoU was exchanged in the presence of Prime Minister Narendra Modi and Brazil's President H.E. Luiz Incio Lula da Silva in New Delhi.

 

"The MoU provides an institutional framework for strengthening bilateral cooperation across the steel value chain, with a focus on promoting reliable and sustainable development of key raw materials required for steel production," the press release said. 

 

The cooperation will focus on attracting investment in exploration, mining, and infrastructure development in the steel sector. It will also focus on processing and recycling technologies for minerals, automation and the use of advanced technologies in exploration and mining.

 

Under the agreement, the countries will also look at the use of best practices in mineral extraction, processing, and environmental management, as well as the use of artificial intelligence in geoscientific data analysis to enhance exploration processes, the release said. 

 

 

After signing the MoU, Modi and Lula addressed a joint press meeting. "The agreement reached on critical minerals and rare earths is a major step towards building resilient supply chains," Modi said. "Our cooperation in the defence sector is also steadily growing. This is a great example of mutual trust and strategic synergy. We will continue to strengthen this win-win partnership."

 

Modi reiterated that both the countries are committed to taking bilateral trade beyond $20 billion in the next five years. In 2024-25 (Apr-Mar), bilateral trade between New Delhi and Brasilia totalled $12.21 billion. India's merchandise exports to Brazil were at $5.38 billion in the first nine months of FY26.

 

"The expansion of the India-MERCOSUR trade agreement will further strengthen our economic cooperation. Our cooperation in technology and innovation is important for both countries, as well as for the entire Global South," he said. 

 

MERCOSUR is a trading bloc in Latin America comprising Brazil, Argentina, Uruguay, and Paraguay. Formed in 1991, MERCOSUR is the third-largest integrated market after the European Union and North American free trade agreement. India had signed a preferential trade agreement with the bloc in January 2004 with the aim of expanding and strengthening the existing relations between the countries and promoting the expansion of trade by granting reciprocal fixed tariff preferences with the ultimate objective of creating a free trade agreement between the parties.

 

He further said that India was working on establishing a centre of excellence for digital public infrastructure in Brazil and is also prioritising cooperation in areas such as artificial intelligence, supercomputers, semiconductors, and blockchain. "Energy cooperation has been a strong pillar of our relationship. In addition to hydrocarbons, we are also accelerating cooperation in several areas, including renewable energy, ethanol blending, and sustainable aviation fuel," Modi said. 

 

Both the countries are also focussing on partnership in agriculture and animal husbandry, Modi said, adding that there is also immense potential for cooperation in the fields of health and pharmaceuticals.

 

"Our cooperation in areas such as climate-resilient agriculture, precision farming, and bio-fertilizers will strengthen the food security of both countries," the prime minister said. "The Centre of Excellence for Oil Seeds, Pulses, and Integrated Farming in Brazil is an important initiative in this direction." End

 

US$1 = INR 90.98

 

Reported by Pratiksha

Edited by Akul Nishant Akhoury

 

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