India and Brazil have formally committed to doubling bilateral trade — from USD 15.07 billion in FY26 to USD 30 billion by 2030 — at the eighth India-Brazil Trade Monitoring Mechanism meeting in Brasília, co-chaired by India’s Commerce Secretary Rajesh Agrawal and Brazil’s Secretary of Foreign Trade Tatiana Lacerda Prazeres. The India-MERCOSUR (Southern Common Market) relationship has already reached USD 20.84 billion in trade volume, adding further scale to the corridor.
Discussions covered pharmaceuticals (with a CDSCO-ANVISA MOU signed in February 2026 providing regulatory cooperation), chemicals, engineering goods, machinery, and agriculture. Both countries agreed to push toward the finalisation of India-MERCOSUR Terms of Reference and the expansion of the existing India-MERCOSUR Preferential Trade Agreement. Mutual recognition of Electronic Certificates of Origin is also under negotiation.
Metric
Current / Recent
Target / 2030
Bilateral trade volume
USD 15.07B (FY26)
USD 30B by 2030
India–MERCOSUR trade
USD 20.84B (2025)
Expanding
Key sectors
Pharma, chemicals, engineering
Also: logistics, critical minerals
Regulatory cooperation
CDSCO-ANVISA MOU (Feb 2026)
Operational framework active
Policy coordination forums
BRICS, G20, WTO
GVC Action Plan 2026–2030
An Indian business delegation of more than 25 companies attended a High Level Business Reception in Brasília, exploring partnerships across critical minerals, renewable energy, digital services, and logistics. The planned establishment of an ApexBrasil office in New Delhi will further compress the business-to-business connection cycle between the two economies.
Frequently Asked Questions
What is the India-Brazil trade target for 2030?
India and Brazil have committed to doubling bilateral trade from USD 15.07 billion (FY26) to USD 30 billion by 2030. Key sectors include pharmaceuticals, chemicals, engineering goods, machinery, agriculture, critical minerals, and logistics. The India-MERCOSUR trade relationship adds further scale at USD 20.84 billion. An India-MERCOSUR PTA expansion and mutual recognition of Electronic Certificates of Origin are under negotiation.
Which cargo types will benefit most from India-Brazil trade growth?
Pharmaceutical shipments (India exports generics; CDSCO-ANVISA MOU eases regulatory clearance), engineering goods and machinery (both ways), agricultural commodities (soya, corn, sugar), chemical intermediates, and critical minerals for the energy transition. For freight operators, this corridor will drive demand for reefer capacity (pharma), bulk tonnage (agri), and breakbulk/project cargo (machinery).
