India-Brazil 8th Trade Monitoring Mechanism Meeting Outcomes
The 8th Meeting of the India-Brazil Trade Monitoring Mechanism was held in Brasília, Brazil, co-chaired by Commerce Secretary Shri Rajesh Agrawal and Brazil's Secretary of Foreign Trade Ms. Tatiana Lacerda Prazeres. The meeting built on the political momentum led by Prime Minister Narendra Modi and President Luiz Inácio Lula De Silva, reflecting the strong institutional framework of the India-Brazil Strategic Partnership.
Bilateral trade between India and Brazil reached USD 15.07 billion in 2025–26, and both sides reaffirmed their shared objective of expanding this to USD 30 billion by 2030. This expansion aims to create a more diversified, balanced, and sustainable partnership, particularly focusing on pharmaceuticals, chemicals, engineering goods, and machinery.
Both sides reviewed progress on the India–MERCOSUR Terms of Reference, noting that the India–MERCOSUR Preferential Trade Agreement offers considerable scope for expansion and modernization. With India-MERCOSUR bilateral trade reaching USD 20.84 billion in 2025, both countries committed to early finalization of the Terms of Reference.
Significant progress was made in facilitating market access for Indian pharmaceutical products through the CDSCO–ANVISA MoU signed in February 2026, which provides an institutional foundation for deeper cooperation in health and pharmaceuticals. India emphasized the need for more predictable regulatory pathways and greater market access to contribute affordable, quality medicines to Brazil.
On agricultural market access, discussions advanced work on priority phytosanitary requests for key products and laid out a clear agenda for reciprocal market access concessions in a time-bound manner. Progress was also noted on mutual recognition of Electronic Certificates of Origin and cooperation in MSMEs, entrepreneurship, and crafts.
Both countries reaffirmed close coordination on multilateral issues under BRICS, G20, and WTO, supporting an open, inclusive, and development-oriented multilateral system. Brazil congratulated India on its BRICS Presidency initiatives, including the BRICS Startup Knowledge Hub and BRICS Business Incubator.
An India-Brazil High Level Business Reception was organized with participation from over 25 Indian businesses including Kirloskar Group, UPL, and Aditya Birla Group. The reception explored new collaboration avenues in critical minerals, renewable energy, agri-business, infrastructure, pharmaceuticals, digital services, logistics, and advanced manufacturing. Both sides welcomed the establishment of ApexBrasil office in New Delhi to strengthen business-to-business linkages and increase Brazilian investment in India.