India and Brazil have set an ambitious target to increase their bilateral trade to $30 billion by 2030, up from the previous target of $20 billion. P Kumaran, Secretary (East) in the Ministry of External Affairs, announced that this decision was made during Brazilian President Luiz Inacio Lula da Silva's visit to India, where he emphasized that the earlier target was insufficient.
Speaking at a special briefing by the Ministry of External Affairs on the State visit of the President of Brazil to India, Mr. Kumaran stated that Silva believed that the earlier target was not ambitious enough, and therefore proposed a larger target. The two countries are looking to enhance cooperation in various sectors, including oil, gas, and renewable energy, launching Brazilian satellites and building satellites together, biofuels and sustainable aviation fuel, agriculture, livestock, and healthcare, as well as yoga. This move is expected to strengthen India-Brazil ties and promote economic growth.
