India and Brazil Eye Strategic Partnership in Minerals and Trade Amid Lula’s Visit

In a significant move to bolster bilateral relations, Brazilian President Luiz Inacio Lula da Silva, during his ongoing state visit to India, underscored Brazil's untapped mineral wealth and expressed interest in collaborating with India on mineral exploration. President Lula highlighted that only 30% of Brazil's critical mineral reserves have been explored, leaving ample room for further development.

Secretary (East) of the Ministry of External Affairs, P Kumaran, revealed that India and Brazil are poised to engage in discussions to forge a practical partnership in mineral exploration. Meanwhile, talks concerning the India-Mercosur preferential trade agreement continue, with both nations exploring potential sectors for collaboration while considering domestic industry sensitivities.

In addition to economic discussions, the naval sectors of both countries are expected to collaborate under a newfound tripartite MoU focusing on Scorpion submarine maintenance, indicating a mutual interest in defense and strategic cooperation. The visit, amidst the backdrop of the India AI Impact Summit, marks President Lula's fifth trip to India, following the Indian Prime Minister's visit to Brasilia last year.