President Lula arrived in New Delhi this week with 14 ministers and a battalion of executives, turning an AI conference into the most ambitious Brazil-India trade push of his presidency. ApexBrasil head Jorge Viana said nearly 600 Indian and 300 Brazilian executives registered for Saturday’s Business Forum — the largest of Lula’s third term.
Bilateral trade reached $15.2 billion in 2025, up 25% from the year before. Viana called the figure “far too little,” adding that even $100 billion would understate the potential. Both governments set a $20 billion target for 2026. Indian investment in Brazil has reached $2.1 billion, with new collaborations emerging in manufacturing and infrastructure.
AI, data centers, and Google
Lula sat alongside Prime Minister Narendra Modi at the inauguration of the India AI Impact Summit at Bharat Mandapam on Thursday — the first global AI gathering held in the Global South. He met Google CEO Sundar Pichai to discuss AI partnerships and data center investments in Brazil.
Lula posted afterward that they discussed Brazil’s AI regulatory framework, creative industry protections, and risks for women. Google confirmed its commitment to expanding operations in Brazil. The visit is Lula‘s sixth to India and reciprocates Modi’s state visit to Brasília last July.
Mercosur-EU on the margins
Lula also met Thursday with Croatian Prime Minister Andrej Plenković. Both affirmed the importance of the Mercosur-EU trade deal and expressed hope it would take effect quickly. The agreement, signed in Paraguay on January 17 after 25 years of negotiations, faces delay after the European Parliament voted January 21 to refer it to the EU Court of Justice.
Brazil’s presidential office said the leaders agreed on the deal’s strategic importance “at a time of rising unilateralism and protectionism.” Lula also criticized global arms spending and called for strengthening multilateralism.
What comes next
Brazil inaugurated its first ApexBrasil trade office in New Delhi during the visit. The agency has identified 378 export opportunities in India across minerals, machinery, food, health technology, and renewables. Brazilian exports to India hit a two-decade high of $6.9 billion in 2025, led by sugar, crude oil, cotton, and iron ore. India supplies higher-value goods in return — pharmaceuticals, chemicals, and auto components worth $8.4 billion. Lula meets Modi for formal bilateral talks on Friday before traveling to South Korea. This is part of The Rio Times’ daily coverage of Brazil politics and Latin American financial news.
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