India and Brazil. Trade deal has been signed between. It has been agreed to hold bilateral talks between Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva in Hyderabad on Saturday, 21 February 2026. MoUs were exchanged between the two countries. PM Modi said, “I am very happy to welcome President Lula and his delegation to India. Just as you welcomed me to Brazil last year, I congratulate all of you. President Lula’s far-sightedness and inspiring leadership have long benefited the relations between India and Brazil. Over the past few years, I have had the privilege of meeting you several times. His visit graced the historic AI Summit. I express my gratitude to you for your commitment to the relations between the two countries that have given new energy to our strategic partnership.
5 big things about India-Brazil trade deal
PM Modi said, “Brazil is India’s largest trading partner in Latin America. We are committed to taking bilateral trade beyond $20 billion in the next five years. Our trade is not just a figure, but it is a reflection of trust.”The large business delegation accompanying the President shows this trust. 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 the entire Global South.” He further said, “I am glad that we are working on creating a Center of Excellence for Digital Public Infrastructure in Brazil. We are also giving priority to our cooperation in areas like Artificial Intelligence, Supercomputer, Semiconductor and Blockchain. Brazil has extended the business visa for Indian passport holders for 10 years. This will help Indians do business in Brazil. Both countries believe that technology should be inclusive and become a bridge for shared progress.”
What did the President of Brazil say about PM Modi?
During this, Brazilian President Luiz Inacio Lula da Silva said, “My dear friend Prime Minister Modi, it is a pleasure for me to return to this country for the sixth time. The meeting between India and Brazil is a very wonderful meeting. We are not just the two largest democracies of the Global South. This is a meeting of a digital superpower and a renewable energy superpower. We are both very different countries and hubs of cultural industry and we both Protecting multilateralism and peace.”
