Brasilia: Brazilian President Luiz Inacio Lula da Silva seeks to forge a “strategic alliance” with India with an aim to strengthen political, economic and technological ties between the two nations. The announcement came in a video message posted on X on Saturday, following the recent visit of Brazilian Vice President Geraldo Alckmin to New Delhi.
Lula described Alckmin’s visit as a crucial step in preparing for his own state visit to India early next year. He highlighted India’s exceptional market potential and the prospects of a multi-dimensional partnership. He said the engagement could span politics, space, entrepreneurship and economics.
He expressed confidence in the warm relations between the two countries, adding that both Brazilians and Indians hold each other in high regard. “Therefore, we will create a strategic alliance with India and develop both Brazilian and Indian economies,” he said.
The president highlighted that Alckmin’s visit was focussed on strengthening business relations and expanding the footprint of Brazilian companies in India.
He praised the vice president for returning with only good news, citing concrete developments such as the opening of a Brazilian aerospace company, Embraer, in India, the implementation of an electronic visa to facilitate business travel and the formation of new partnerships.
Alckmin too emphasised that India and Brazil are complementary markets rather than competitors. Answering questions on the potential of both nations as alternatives amid high US tariffs, he said, “We are not going to compete on product, we are going to have economic complementarity.”
He highlighted the growth potential on both sides, stating that India’s economy is expanding at around seven percent while Brazil is experiencing a record 16 percent agricultural harvest this year. “There is a lot of possibility for complementarity: in technology, industry, mining and agriculture,” he added.
Lula’s announcement comes against a backdrop of increasing US trade barriers. In August, American President Donald Trump imposed tariffs of up to 50 percent on various Brazilian goods, while India faces similar US tariffs reaching 50 percent on most exports. Despite these challenges, economic engagement between India and Brazil continues to grow.
During Prime Minister Narendra Modi’s visit to Brazil in July, both leaders targeted raising bilateral trade to USD 20 billion within five years. In fiscal year 2024-25, merchandise trade between the two nations reached USD 12.19 billion, making Brazil India’s largest trading partner in Latin America and the Caribbean, according to the Ministry of Commerce and Industry.
The strategic alliance envisioned by Lula promises a transformative partnership, bringing together two of the world’s largest democracies, spanning continents and poised to strengthen trade, investment and technological collaboration in a rapidly changing global economy.
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