NEW DELHI: Prime Minister Narendra Modi will hold talks with Brazilian President Luiz Inacio Lula da Silva in New Delhi on Saturday, with a focus on strengthening cooperation in critical minerals, boosting trade ties, and advancing strategic supply chain partnerships. The visit comes amid India’s push to reduce dependence on China, which dominates global rare earth production, while expanding partnerships with resource-rich nations. Lula, who is leading a delegation of ministers and business leaders, is also expected to explore avenues for deeper economic and industrial collaboration between the two emerging economies.
Trade cooperation & more: What’s on agenda
A key outcome expected from the PM Modi-Lula meeting is the signing of a memorandum of understanding on critical minerals, aimed at securing long-term supply chains and strengthening resource cooperation. Officials said discussions will also focus on increasing bilateral trade, which crossed $15 billion in 2025, with both countries targeting $20 billion by 2030.
The talks will include efforts to expand cooperation in strategic sectors such as clean energy, mining, aviation, and manufacturing. Recent developments include a partnership between Brazilian aerospace firm Embraer and Adani Group to manufacture aircraft in India, signalling growing industrial collaboration.The leaders are also expected to exchange views on global economic challenges and multilateral trade tensions following tariff measures imposed by the United States in 2025. India has simultaneously strengthened supply chain partnerships with the France, the European Union, and others, while also prioritising Global South partnerships to secure mineral access and shape emerging trade frameworks, according to experts at the Council on Energy, Environment and Water.Brazil remains India’s largest trading partner in Latin America, exporting crude oil, sugar, iron ore, and agricultural commodities. Lula’s visit also includes participation in global technology discussions, and he is scheduled to travel onward to South Korea for talks with President Lee Jae Myung and business leaders.The meeting comes as India seeks to diversify sourcing of rare earth elements, essential for electric vehicles, renewable energy systems, electronics, and defence, from countries such as Brazil, which holds the world’s second-largest reserves.
