The ground is being laid for a visit to India, perhaps early next year, by Brazil’s President Lula da Silva. Brazil’s Vice-President and Minister for Development, Industry & Trade Geraldo Alckmin begins a three-day visit beginning Wednesday.
The agenda: deepen the bilateral strategic partnership with the shared goal of doubling trade to $20 billion over the next five years. The agenda also reflects broader priorities of the Global South, which is securing reliable energy supplies, ensuring sustainable food systems, and reforming multilateral economic governance.
The immediate focus for Alckmin and his Indian counterpart Commerce Minister Piyush Goyal, is to review progress on bilateral trade and investment, identify new priority sectors—particularly in renewables, agri-tech, and industrial innovation, and set a concrete roadmap toward the shared trade target.
In a statement ahead of his departure, Vice President Alckmin underlined the legal and institutional steps being taken to solidify this economic cooperation. He announced the signing of two presidential decrees on behalf of his President:
- Agreement on Cooperation and Facilitation of Investments (ACFI) between Brazil and India, creating a more secure and transparent environment for cross-border investments.
- Modernize the bilateral agreement on the avoidance of double taxation, reducing fiscal burdens and promoting ease of doing business between the two countries.
“We are on our way to India for a mission to expand trade, investments, and job generation for both nations,” Alckmin said, stressing that this is not just a diplomatic visit but part of a larger strategic mission to align economic growth with social development across the Global South.
Alckmin will also participate in the India-Brazil Business Forum, meet Indian industry leaders, and visit the All India Institute of Ayurveda, reflecting growing collaboration in wellness and healthcare, sectors critical to post-pandemic recovery and resilience in the Global South.
Discussions are expected to touch upon critical energy partnerships, sustainable industrial development, and cooperation in multilateral forums like BRICS and G20.
Brazil is already India’s largest trading partner in Latin America, with bilateral merchandise trade reaching $12.19 billion in FY 2024–25. With both countries committed to diversifying trade and reducing barriers, their renewed engagement through this visit marks a significant step toward a more equitable and interconnected Global South.
As emerging economies face shared challenges around climate resilience, energy transition, and fair market access, the visit of Vice President Alckmin represents a timely and strategic opportunity to drive coordinated action and shared prosperity.
