Brazilian President Luiz Inácio Lula da Silva has announced plans to form a “strategic alliance” with India to strengthen political, economic, and technological cooperation between the two nations.
In a video message posted on X on Saturday (local time), following Brazilian Vice President Geraldo Alckmin’s recent visit to India, Lula emphasised the importance of leveraging India’s “exceptional market” for mutual benefit.
“The visit of Vice President Geraldo Alckmin to India, in preparation for my trip early next year, is very important because India has an exceptional market. We can have a fantastic alliance with India – political, space, entrepreneurial, and economic,” Lula said in the video.
“So, I think it was an extraordinary job, and the Indians like Brazil, and Brazilians like Indians. Therefore, we will create a strategic alliance with India and develop both Brazilian and Indian economies,” he added.
Outcome of Alckmin’s visit
Lula’s remarks came a day after Vice President Geraldo Alckmin concluded his visit to India, aimed at deepening bilateral ties and laying the groundwork for Lula’s state visit to India next year — part of the ongoing implementation of the roadmap outlined during the Modi-Lula summit in July.
The ultimate goal, as Lula stated in the post, was to focus on strengthening business relations, as numerous Brazilian companies are eyeing opportunities to enter the Indian market.
He also highlighted several positive outcomes from Alckmin’s return from India, saying he only brings “good news.” Key developments include the opening of an office of Brazilian aerospace company Embraer in India, the implementation of an e-visa to facilitate business travel, and the establishment of new partnerships.
Complementarity, not competition
Addressing media questions about India and Brazil potentially positioning themselves as alternative markets amid US tariffs, Alckmin clarified that the cooperation between the two countries is complementary and is not competitive.
He further stressed that both countries are democracies and not competitors, reported ANI.
“Independent of the American question, we are talking about two countries, two democracies, two countries that defend multilateralism, two countries of continental dimensions, both Brazil and India, that have everything to make trade grow, to make more investments grow,” he told ANI.
Calling India one of the fastest-growing countries in the world, he also said that “Brazil this year is having an agricultural harvest that is 16 per cent superior, so there is a lot of possibility for complementarity: in the area of technology, industrial area, mining, agro… We are not going to compete on product; we are going to have economic complementarity,” ANI reported.
Growing bilateral trade
The deepening engagement between Brazil and India builds on an already robust economic relationship. During Prime Minister Narendra Modi’s visit to Brazil in July, the two leaders set an ambitious target of raising bilateral trade to $20 billion within five years.
This marks a significant acceleration from the current figures. In FY 2024-25, merchandise trade between the two nations reached $12.19 billion, solidifying Brazil’s position as India’s largest trading partner in Latin America and the Caribbean region, according to the Ministry of Commerce and Industry.
In August, US President Donald Trump imposed a 50% tariff on several Brazilian goods, which already had a 26.4% levy. His administration also imposed up to 50% tariffs on most Indian exports, which includes an additional 25% duty in response to India’s continued purchases of Russian crude oil. (Mint)