India-Brazil Strategic Bilateral Ties
Prime Minister Modi and President Lula recently signed key pacts to strengthen the India-Brazil partnership, focusing on critical minerals, rare earths, and steel mining. This move aims to diversify supply chains and reduce reliance on China.
Key Highlights:
* Trade Ambition: A proposal to double bilateral trade to $30 billion by 2030 and expand the India-Mercosur Preferential Trading Agreement.
* Geopolitical Context: The meeting follows new 10% U.S. tariffs and legal shifts in American trade policy. Both nations adopted a "wait and watch" stance regarding U.S. relations.
* Cooperation: Focus on digital partnerships, biofuels, defense, and healthcare, positioning the duo as leaders of the Global South.
Source the hindu