Summary
The two countries set a target of thirty billion US dollars in bilateral trade by 2030, up from about fifteen billion US dollars in 2025‑26.
Key sectors discussed include medicines, chemicals, engineering equipment, machinery, and agricultural products.
Both sides highlighted the need for smoother regulatory processes, such as faster approval for Indian medicines in Brazil and mutual recognition of electronic certificates of origin.
The partnership also aligns with broader collaboration in international forums like the Group of Five Emerging Economies, the Group of Twenty Nations and the World Trade Organization.