New Delhi [India], February 21 (ANI): Secretary (East) of the Ministry of External Affairs, P Kumaran said on Saturday that Brazilian President Luiz Inacio Lula da Silva said only 30% of their reserves have been explored and that there is substantial scope for exploration.

Kumaran, while speaking at the Special Briefing by MEA on State visit of President of Brazil to India, said that while talking on the critical minerals, Silva said he would value India's partnership in the area of critical minerals.

'On critical minerals MoU, President Lula gave a very detailed presentation on Brazil's substantial critical minerals and rare earth reserves. He said only 30% of their reserves have been explored and that there is substantial scope for exploration processing minerals and also using them. He said Brazil would value India's partnership in the area of critical minerals. So we will be taking this forward by discussing with the concerned ministries about how to engage in practical cooperation in this regard,' he said.

He said further that in the India-Mercosur preferential trade agreement, discussions are still on.

'For the India-Mercosur preferential trade agreement, we still haven't reached there have been a few rounds of discussions held and we are still discussing which areas can be opened up. There are sensitivities on both sides when it comes to agriculture some industries that need protection on both sides according to national priorities on either side. So we don't have any details on which are the lines that are being opened up or how many lines are being opened up but there's still early days and currently the pro-Temporary presidency of Mercosur is with Paraguay and Paraguay will lead negotiations for the next 6 months,' he said.

'So we are waiting for further details on how this proceeds but there is a strong determination of all the Mercosur members Argentina, Brazil, Paraguay and Uruguay to take this forward and find ways to enhance trade because all are very keen on diversification of trade partnerships and also to enhance resilience in our supply chains,' he added.

Kumaran said that navies have signed the tripartite and work will start on the basis of the MoU on Scorpion submarine maintenance cooperation.

'On the Scorpion submarine maintenance cooperation, we had signed an MOU Mazagon Dock Shipbuilders Limited and the two navies have signed the tripartite and work will start on the basis of that MoU. There was a reference to that when the two leaders spoke today. We will be awaiting further details on how exactly this is going to proceed but clearly this is an area of interest and a big opportunity for us to cooperate,' he said.

Brazil President Luiz Inacio Lula da Silva arrived in India on February 18, 2026. During the period February 19-20 participated in the India AI Impact Summit. Today, he was given a traditional welcome in the forecourt of Rashtrapati Bhavan. He, alongwith 11 ministers met the Prime Minister and his delegation at Hyderabad House. This is President Lula's fifth visit to India as President of Brazil. The visit comes seven months after the state visit of PM to Brasilia on July 8 last year. (ANI)