Piyush Goyal addressed the plenary session of the India–Brazil Business Forum in New Delhi, underscoring the expanding economic partnership between the two countries. Noting that bilateral trade grew 25 per cent in the past year to reach USD 15 billion, he described the figure as below potential. He called for greater ambition in scaling up economic engagement. Referring to the higher benchmarks set by Luiz Inácio Lula da Silva and Narendra Modi, he said both nations can “grow faster, grow bigger and grow together” for shared prosperity.
Describing India and Brazil as natural partners bound by democracy and diversity, Goyal highlighted deepening cooperation in defence, energy, agriculture, and agrochemicals. He also pointed to collaboration under platforms such as BRICS, IBSA, the G20, and the World Trade Organization.
Emphasising India’s emergence as a trusted investment destination, he noted record FDI inflows of nearly USD 80 billion in FY2025 and progress on multiple trade agreements, including efforts to expand the India–MERCOSUR Preferential Trade Agreement. Highlighting Brazil’s strengths in natural resources, agriculture, and advanced manufacturing, Goyal said the two countries can together reshape global value chains through innovation and strategic collaboration, paving the way for a stronger, forward-looking partnership.
