On February 21, 2026, Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva held wide-ranging talks in New Delhi, aiming to strengthen the long-standing partnership between India and Brazil and raise the level of cooperation between the two nations. 

The discussions took place at Hyderabad House, where the two leaders addressed the media in a joint press conferenceafter their bilateral meeting. They highlighted the strong relationship between India and Brazil, and expressed a shared commitment to deepen economic, technological, and strategic ties. 

PM Modi described the India-Brazil relationship as having been “beneficial for a long time.” He emphasized that both countries have worked together across many areas and now want to take their partnership to a higher level. 

One of the major goals announced by Modi was a plan to increase bilateral trade between India and Brazil beyond $20 billion over the next five years. He said this target reflects more than just numbers — it also symbolizes the trust that exists between the two nations. 

“We are committed to taking our bilateral trade beyond $20 billion in the next five years. Our trade is not merely a number; it is a reflection of trust.”

This announcement signals a mutual desire to expand business connections and grow trade volumes far beyond where they stand today.

Mr Modi also pointed out that President Lula came with a delegation of 300 business leaders, which shows strong confidence in the potential for greater economic cooperation between the two countries. These leaders are expected to participate in business forums designed to explore new investment and partnership opportunities. 

The expansion of the India-Mercosur trade agreement was another key part of the discussion. Modi said that expanding this agreement will strengthen economic cooperation and create new opportunities for trade and investment. Mercosuris a major South American trading bloc that includes Brazil, Argentina, Uruguay, and Paraguay. 

Mr Modi highlighted the importance of technology and innovation in driving future development for both countries and said that cooperation in these areas can benefit not just India and Brazil, but also the entire Global South. 

“The large business delegation accompanying the President reflects this confidence. The expansion of the India-Mercosurtrade agreement will further strengthen our economic cooperation. Our cooperation in technology and innovation is important for both countries as well as the entire Global South.”

In the press conference, Mr Modi also underlined that discussions between the two leaders covered a wide range of areas and included a joint review of cooperation in many fields. He said:

“In the discussions we had today, we spoke about our shared purpose and experience in every sector.”

Among the sectors highlighted were critical minerals, defence, and pharmaceuticals, which both nations see as important to their future economic and strategic cooperation. 

Modi said that cooperation on critical minerals and rare earths — materials essential for electronics, defense technologies, renewable energy systems, and other strategic industries — is an important step toward building resilient supply chains for both countries. 

“The agreement reached on critical minerals and rare earths is a major step in building a resilient supply chain.”

This cooperation is seen as especially important given the rapidly increasing global demand for these materials and their strategic value in advanced technologies.

Modi also spoke about strengthening ties in the defence sector. He said that defence cooperation between India and Brazil has been growing steadily over time and is a clear example of mutual trust and shared strategic interests. 

“Our cooperation in the defence sector is also steadily growing. This is a great example of mutual trust and strategic alignment. We will continue to strengthen this win-win partnership.”

The defence relationship includes shared strategic dialogues and cooperation in technology and capacity building, reflecting deeper ties on security and defence matters.

Another area of focus was the health and pharmaceutical sector. India is a global provider of affordable medicines, and Modi stressed the potential to further increase the supply of Indian medicines to Brazil. 

“There is also immense potential for cooperation in the health and pharmaceutical sectors. We will work to increase the supply of affordable and quality medicines from India to Brazil.”

This cooperation aims not only to improve access to health products but also to build stronger industrial links in pharmaceutical production and distribution.

Cooperation in technology and innovation was described as another major pillar of the relationship. Modi said that both countries agree technology must be inclusive and support fair progress for their populations. 

“Both our nations agree that tech must be inclusive and must be a bridge for fair progress.”

This includes areas like digital infrastructure, research collaboration, and shared innovation projects that can benefit a wide range of industries and communities.

Brazilian President Luiz Inácio Lula da Silva also spoke at the press conference and highlighted the importance of the India-Brazil relationship. He described the meeting as “a meeting of superlatives”, underlining how important the partnership is for both nations. 

“The meeting between India and Brazil is a meeting of superlatives. We are not just the two biggest democracies of the Global South. This is a meeting of a digital superpower with a renewable energy superpower.”

Lula emphasized how both countries bring unique strengths to their collaboration — India with its digital economy and Brazil with its renewable energy resources — and how this combination can have a broad impact on global cooperation and shared development goals. He also spoke about the cultural diversity and shared commitment to multilateralism and peace that both nations represent. 

President Lula’s visit to India follows Prime Minister Modi’strip to Brasilia in July 2025, which was the first visit by an Indian prime minister to Brazil in more than 50 years. This historic visit laid the foundation for renewed efforts to expand bilateral engagement. 

Lula arrived in India with his delegation on Wednesday and is expected to depart Sunday, with ongoing business and diplomatic activities, including a planned Business Forum to explore future investment opportunities.