Autobayng News Team
- Published On Feb 21, 2026 at 11:58 AM IST
Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva“>
Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva are set to hold talks in New Delhi on Saturday aimed at deepening cooperation in critical minerals and rare earths, news agency AFP reported.
The meeting is significant as Brazil holds the world’s second-largest reserves of rare earth elements, which are essential for electric vehicles, solar panels, smartphones, jet engines and guided missiles. India, seeking to reduce its dependence on China — the dominant global exporter — has been expanding domestic production and recycling efforts while diversifying its overseas suppliers.
Lula arrived in New Delhi on Wednesday with a delegation comprising more than a dozen ministers and business leaders to attend a global summit. Officials said the two leaders are expected to sign a memorandum of understanding on critical minerals and discuss ways to strengthen trade ties.
Growing trade between both countries
Bilateral trade between the two countries exceeded $15 billion in 2025, with India currently the 10th largest market for Brazilian exports. Both sides have set a target of increasing trade to $20 billion by 2030.
With China maintaining a near-monopoly over rare earth production, several countries are pursuing alternative supply chains. Rishabh Jain of the Delhi-based Council on Energy, Environment and Water told the news agency that India’s engagement with Brazil complements similar supply chain initiatives with the United States, France and the European Union.
While partnerships with advanced economies provide access to technology and finance, “Global South alliances are critical for securing diversified, on-ground resource access and shaping emerging rules of global trade,” Jain told AFP.
Discussions on global challenges
Beyond minerals, Modi and Lula are expected to discuss global economic headwinds and challenges to multilateral trade systems, following both nations’ experiences with US tariffs in 2025. Washington has since pledged to roll back duties on Indian goods under a trade deal announced earlier this month.
Brazilian diplomat Susan Kleebank, secretary for Asia and the Pacific, said the leaders would exchange views on “the challenges to multilateralism and international trade”.
Brazil is India’s largest trading partner in Latin America. Key Brazilian exports to India include sugar, crude oil, vegetable oils, cotton and iron ore, with demand for iron ore driven by India’s infrastructure expansion and industrial growth.
Brazilian companies are also increasing their presence in India. Last month, Embraer and the Adani Group announced plans to build aircraft in the country.
Lula also addressed the AI Impact Summit in Delhi on Thursday, calling for a multilateral and inclusive global governance framework for artificial intelligence. He is scheduled to travel next to South Korea for meetings with President Lee Jae Myung and to attend a business forum.
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