India, Brazil set $30 billion trade target by 2030, sign mineral pacts

In a significant move to strengthen bilateral relations, Indian Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva have set an ambitious target to double trade between their nations to $30 billion by 2030. This announcement was made during Lula's recent visit to India, highlighting a commitment to enhancing economic ties. As part of this initiative, both leaders signed agreements focusing on rare earth minerals and mining, which are crucial for various industries, including technology and renewable energy. Additionally, discussions aimed at bolstering cooperation in defense and energy sectors were emphasized, indicating a broader strategic partnership. The leaders also underscored the importance of multilateral engagement, aiming to work together on global issues such as climate change and sustainable development. This partnership not only reflects India's growing influence in international trade but also Brazil's role as a key player in the global mineral supply chain, setting the stage for a mutually beneficial relationship in the coming years.