India and Brazil signed a mining and minerals cooperation pact on Saturday (21 February), as Prime Minister Narendra Modi said the two countries aim to increase bilateral trade to more than $20 billion within five years.
The agreement was signed in the presence of Modi and President Luiz Inácio Lula da Silva, who is on a three-day visit to New Delhi.
Brazil is among the world's top producers of iron ore and holds large reserves of minerals critical to steelmaking.
Closer cooperation is expected to improve India's access to raw materials and technologies needed to sustain long-term growth in its steel sector, an Indian government statement said.
The cooperation will focus on attracting investment in exploration, mining and steel sector infrastructure, the statement said.
India has steelmaking capacity of 218 million metric tons, and companies are expanding output to meet rising domestic demand driven by infrastructure development and industrialisation.
Addressing a meeting with a Brazilian delegation led by Lula, Modi said their talks had focused on ways to deepen the India-Brazil trade partnership.
"We are committed to taking bilateral trade much beyond $20 billion in the next five years," Modi said.
Bilateral trade between the two countries currently stands at about $15 billion.
"Our nations will also work closely in areas such as technology, innovation, digital public infrastructure, AI, semiconductors and more," Modi said.
India and Brazil have been strategic partners since 2006, with cooperation spanning trade, defence, energy, agriculture, health, critical minerals, technology and digital infrastructure.
Brazil is India's largest trading partner in the Latin America and Caribbean region, and the two countries work closely on global issues such as UN reform, climate change and counter-terrorism.
Lula on Thursday (19 February) called for Brazil and India to conduct trade using their own currencies instead of U.S. dollars. He dismissed speculation that the BRICS group, which includes both countries, would introduce a common currency.
Germany's ruling conservatives on Saturday (21 February) passed a motion to ban social media use for under 14s and introduce more stringent digital ve...
India and Brazil signed a mining and minerals cooperation pact on Saturday (21 February), as Prime Minister Narendra Modi said the two countries aim t...
At least 10 people were killed and 50 wounded in Israeli strikes in Lebanon's Bekaa Valley on Friday (20 February), two security sources told Reuters,...
The Russian Defence Ministry claimed on Saturday (21 February) that its forces had captured another settlement in eastern Ukraine....
President Donald Trump said on Friday (20 February) he will sign an executive order imposing a new 10% “global tariff” on imports. The development...
The U.S. military carried out a strike Friday (20 February) on a vessel allegedly engaged in narcotrafficking in the Eastern Pacific, according to the U.S. Southern Command (SOUTHCOM).
Europe needs to develop global partnerships with key nations to tackle global problems together, chancellor tells Munich Security Conference
India’s trade minister said diversifying energy imports and expanding purchases of advanced technology from the United States would serve New Delhi’s strategic interests, as the two countries move closer to finalising a long-awaited trade agreement.
U.S. Secretary of State Marco Rubio met with Indian Foreign Minister Subrahmanyam Jaishankar on Tuesday (February 3) one day after the U.S. and India signed a trade deal.
Quentin Griffiths, co-founder of online fashion retailer ASOS, has died in Pattaya, Thailand, after falling from the 17th floor of a condominium on 9 February, Thai police confirmed.
At least four people have died and 17 others were injured after a liquid gas truck overturned and exploded in Santiago, Chile’s capital, authorities confirmed on Thursday. Police said the driver was among those killed.
Cubans are increasingly turning to solar power to keep businesses operating and basic household appliances running during prolonged electricity cuts, as fuel shortages make diesel generators and other temporary solutions more difficult and costly to maintain.
Ukraine’s National Paralympic Committee has announced it will boycott the opening ceremony of the Milano Cortina 2026 Paralympics in Verona on 6 March, citing the International Paralympic Committee’s decision to allow some Russian and Belarusian athletes to compete under their national flags.
Gianni Infantino, president of the Fédération Internationale de Football Association (FIFA), announced a new partnership with the Board of Peace on Thursday (19 February), committing to build football pitches and arenas in Gaza as part of broader efforts to rebuild the region.
Germany's ruling conservatives on Saturday (21 February) passed a motion to ban social media use for under 14s and introduce more stringent digital verification checks for teenagers, building momentum for such limits in Germany and elsewhere in Europe.
The Russian Defence Ministry claimed on Saturday (21 February) that its forces had captured another settlement in eastern Ukraine.
President Donald Trump said on Friday (20 February) he will sign an executive order imposing a new 10% “global tariff” on imports. The development comes hours after the U.S. Supreme Court struck down Trump's sweeping “reciprocal” import duties in a major setback to his trade agenda.
The U.S. military carried out a strike Friday (20 February) on a vessel allegedly engaged in narcotrafficking in the Eastern Pacific, according to the U.S. Southern Command (SOUTHCOM).
UK politicians have renewed calls for Andrew Mountbatten-Windsor, formerly Prince Andrew, to be removed from the line of succession following his arrest on suspicion of misconduct in public office and revelations over his links to convicted U.S. sex offender Jeffrey Epstein.
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