India, Brazil look to broaden PTA, eye US$ 20 billion bilateral trade by 2030
- IBEF
- October 17, 2025
India and Brazil are working to expand their Preferential Trade Agreement (PTA) and have set a bilateral trade target of Rs. 1,75,600 crore (US$ 20 billion) by 2030, up from Rs. 1,05,360 crore (US$ 12 billion) in 2024. The collaboration aims to strengthen economic ties under the broader framework of the Mercosur bloc, which includes Argentina, Brazil, Uruguay, and Paraguay. During a meeting held in New Delhi on October 16, 2025, Brazil’s Vice President and Minister of Development, Industry, Trade, and Services, Mr. Geraldo Alckmin, and India’s Union Minister of Commerce and Industry, Mr. Piyush Goyal, reaffirmed their commitment to deepen the existing PTA to enhance trade and investment opportunities. The Brazilian government has expressed its intent to work with Mercosur partners to ensure a swift and mutually beneficial expansion of the agreement.
The India-Mercosur PTA, signed in January 2004 and implemented in June 2009, currently offers tariff concessions on around 450-452 tariff lines, ranging from 10% to 100%. Mr. Geraldo Alckmin noted that exports between both countries have already grown over 30% this year, highlighting strong trade momentum. He added that India and Brazil complement each other economically, creating opportunities for collaboration in sectors such as automotive, information technology, renewables, clean energy, healthcare, aerospace, agriculture, semiconductors, and digital innovation. He also proposed launching a Brazil-India digital partnership focused on artificial intelligence, high-performance computing, and technology start-ups to support green growth and job creation. Mr. Piyush Goyal emphasized that expanding the PTA would allow India to strengthen its presence in the South American market and foster long-term economic cooperation.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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