The February 18-22 visit of Brazilian President Luiz Inácio Lula da Silva to India marks a decisive moment in the evolution of India-Brazil ties. Coming at a time of global economic turbulence, technological transformation, and renewed geopolitical contestation, the visit signalled that two of the largest democracies of the Global South are prepared to move beyond rhetorical solidarity and craft a structured, forward-looking partnership.

The optics were important ~ Lula’s keynote at the India-AI Impact Summit in New Delhi, his wide-ranging talks with Prime Minister Narendra Modi, and the presence of an unusually large ministerial and business delegation ~ but the substance of the visit matters far more. Together, the two sides appear intent on upgrading their 2006 strategic partnership into a comprehensive, multi-sectoral alignment suited to a fragmented global order. The timing of the visit is critical. Developing countries are navigating the aftershocks of aggressive tariff regimes and supply chain disruptions associated with the return of protectionist trade policies in the United States under President Donald Trump.

Both India and Brazil have faced tariff pressures, underscoring the vulnerability of exportdependent sectors and the risks of overreliance on traditional Western markets. In this context, the decision to set an ambitious bilateral trade target of $30 billion by 2030 is not merely aspirational ~ it is strategic. Bilateral trade, which crossed $15 billion in 2025 with a notable growth rate, is now being framed as a pillar of economic resilience. By committing to reduce non-tariff barriers, expand the India-MERCOSUR Preferential Trade Agreement, and facilitate electronic certificates of origin, both sides are signalling seriousness about structural trade reform.

What distinguishes this phase of the relationship is its focus on critical minerals and industrial supply chains. India’s quest to reduce dependence on Chinese rare earth supplies has become an urgent national priority, particularly as advanced manufacturing, renewable energy systems, and defence technologies increasingly rely on these inputs. Brazil, endowed with vast reserves of iron ore and critical minerals, emerges as a natural partner. The mining and minerals cooperation pact signed in New Delhi is therefore a geoeconomic instrument. It promises collaboration in exploration, mining, steel sector infrastructure, and technological transfer.

For India, which has........

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