India-Brazil trade to touch USD 15 billion in 2025; VP Alckmin announces new pacts, eVisa in New Delhi

New Delhi [india], October 17 (ANI): In a major push to strengthen India-Brazil relations, Brazilian Vice President Geraldo Alckmin led a high-level delegation during a three-day visit to India, acting on the directive of President Luiz Inacio Lula da Silva, who is slated to visit in February 2026.
Addressing a press conference, Alckmin highlighted the burgeoning economic ties, with both nations witnessing a surge in investments from Indian and Brazilian enterprises.
Bilateral trade, which stood at USD 12 billion last year, is on track to reach USD 15 billion by the end of 2025, with an ambitious goal of USD 20 billion in the near term.
"We are committed to expanding preferential tariff lines in the coming months to drive this growth," Alckmin stated. The delegation signed two pivotal decrees: an investment facilitation agreement and a pact to eliminate double taxation, ensuring greater legal certainty for businesses.
In a significant move, Alckmin announced the introduction of a business eVisa starting next week, to be facilitated by Brazil's embassy and consulate in India, aimed at easing business travel. He also underscored opportunities in Brazil's universal healthcare system, expressing keen interest in collaborating with India's pharmaceutical sector to advance vaccine and drug production.
Energy cooperation emerged as a key focus, with Brazil's Petrobras signing a deal to supply 6 million barrels of oil to India in exchange for importing diesel. Alckmin invited Indian companies to participate in two newly opened oil exploration blocks, leveraging Brazil's expertise in deep-sea oil extraction.
In the aerospace and defence sector, Brazilian firm Embraer inaugurated an office in New Delhi and signed a cooperation agreement with Mahindra for defence and aeronautics.
Alckmin noted that Embraer's KC390 multimission aircraft, widely used in Brazil, is being explored for local production in India, signalling deeper industrial ties.
Emphasising the shared democratic values of both nations, Alckmin said, "Brazil and India are partners in multilateralism and free trade through BRICS, which stands for inclusive growth, not opposition." He highlighted Brazil's 16% agricultural growth, adding, "We don't seek to compete with India, a global agricultural leader, but to complement each other's strengths."
He also expressed hope for a direct flight between India and Brasilia to boost connectivity, calling it "a shared dream."
The visit saw robust exchanges between Indian and Brazilian business delegations, laying the groundwork for a dynamic partnership. "This is just the beginning of a new chapter in India-Brazil collaboration," Alckmin concluded, reaffirming both nations' commitment to mutual prosperity. (ANI)