More Stories

Informist, Saturday, Feb. 21, 2026

 

Please click here to read all liners published on this story

--Brazil President: Won't be surprised if trade with India hits $30 bln by 2030 
--CONTEXT: Brazil President Lula speaking at India-Brazil Business Forum 
--Minister Goyal: Aspire bigger, faster trade growth with Brazil
--CONTEXT: Commerce Minister Goyal speaking at India-Brazil Business Forum 
--Minister Goyal: Hope to launch FTA with Canada in near future

 

NEW DELHI – Calling the current state of trade between the two countries 'sub-optimal', Commerce Minister Piyush Goyal said Saturday that India aspires bigger and faster growth in its trade with Brazil. "Our bilateral trade, even though it has grown by 25% last year, at $15 billion is truly sub-optimal," he said at the India-Brazil Business Forum. "We have to be signficantly more ambitious."

 

Earlier in the day, the ministry of steel and Brazil's ministry of mines and energy 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 ministry of micro, small and medium enterprises also signed an MoU with the Brazil's ministry of entrepreneurship, micro and small enterprises on Saturday.

 

"When we think of Brazil, we think of its rich natural resources. Minerals like niobium, lithium, and iron ore are vital for shaping the future of technology and globaL energy transition," Goyal said. 

 

In 2024-25 (Apr-Mar), bilateral trade between New Delhi and Brasilia totalled $12.21 billion. Trade between both the countries totalled $10.85 billion in the first nine months of FY26.

 

Speaking at the same forum, Brazil's president expressed confidence over trade between the two countries increasing signficantly over time, saying he would not be surprised if trade between India and Brazil touches $30 billion by 2030. Earlier in the day Modi had reitered that both the countries are committed to taking bilateral trade beyond $20 billion in the next five years.

 

Goyal further said he was hopeful that free trade agreement between India and Canada will be launched in the near future. "We are in active negotiation with many other countries with whom we intent to sign free trade agreements. We have finalised terms of reference with Israel, the GCC and we have also launched disucssions with Canada and hope to launch FTA with them in the near future," he said. End

 

US$1 = INR 90.98

 

Reported by Pratiksha

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.