Sao Paulo [Brazil], February 18 (ANI): Brazilian President Luiz Inacio Lula da Silva's official visit to India has marked a renewed push to deepen trade, investment, and strategic cooperation between the two major Global South economies.

During the visit, Brazil hosted the India-Brazil Business Forum 2026 and inaugurated the first ApexBrasil office in the Indian capital, aimed at expanding exports and strengthening commercial presence in one of the world's fastest-growing markets.

The initiative comes amid robust growth in bilateral trade. Commerce between the two countries reached 15.2 billion US dollars in 2025, a 25 per cent increase from the previous year.

Both sides now aim to raise the figure to 20 billion dollars by 2026 and significantly expand the product basket, as cited by Brasil 247.

President Lula described India and Brazil as natural partners, citing their democratic systems, cultural diversity, and expanding economies.

India's vast consumer market, rising demand for energy, food, and industrial inputs, along with rapid infrastructure growth, have positioned it as a priority destination for Brazilian exports.

Brazilian exports to India climbed to 6.9 billion dollars in 2025, the highest in two decades, led by sugar, crude oil, vegetable oils, cotton, and iron ore.

The export promotion agency ApexBrasil has identified 378 new opportunities across minerals, machinery, food products, health technology, and renewable energy sectors.

Agricultural items such as ethanol derivatives and cotton, along with industrial equipment for agribusiness and power generation, are key focus areas.

At the same time, India continues supplying higher value-added goods to Brazil, including pharmaceuticals, chemicals, and auto components.

Brazilian imports from India stood at 8.4 billion dollars in 2025.

Investment ties are also expanding, with Indian foreign direct investment in Brazil reaching 2.1 billion dollars and new industrial collaborations emerging.

The partnership is reinforced through frameworks such as the Mercosur-India Preferential Trade Agreement and cooperation within BRICS, G20, BASIC, and IBAS, highlighting the growing importance of South-South economic collaboration. (ANI)