NEW DELHI: An agreement for cooperation on rare earths and critical minerals, bilateral trade target of $30 billion by 2030 and Global South solidarity in technology that, according to PM Narendra Modi, must be inclusive and act as a bridge for shared progress were among the highlights of Modi’s bilateral meeting with Brazilian President Luiz Inacio Lula da Silva on Saturday.Modi said the critical minerals agreement, which could potentially lower dependence on China, was a major step towards building resilient supply chains. Significantly, the leaders discussed the US Supreme Court judgment striking down President Donald Trump’s global tariffs and agreed that both sides needed to study its implications.“So, we will essentially be in wait-and-watch mode to see how the administration responds to this judgment, whether any further steps are taken and to study the implications for our trade,” said MEA secretary (east) P Kumaran at a media briefing.Lula mentioned trade unilateralism in his remarks and also said that in a turbulent world, both sides were required to strengthen and deepen their strategic dialogue. “India and Brazil are crucial voices at the UN, at the WTO and G20,” he said, while also underlining the significance of cooperation under BRICS.Modi and Lula focused on energy transition and defense and security cooperation that the PM said was a perfect example of mutual trust and strategic harmony. “We will continue to strengthen this win-win partnership further,” the PM said. In all, India and Brazil signed nine agreements, including one in the field of mining for steel supply chain, and also announced that Brazil would extend business visas for ordinary Indian passport holders to 10 years.Modi said that the expansion of India’s trade agreement with Mercosur, a South American trading bloc, will further strengthen economic cooperation and that bilateral cooperation in the field of technology and innovation was important for both countries as well as the Global South.“We are also prioritizing our cooperation in areas such as artificial intelligence, supercomputers, semiconductors and blockchain,” he said, adding that energy cooperation too had been a strong pillar of the relationship and there was now increasing cooperation in renewable energy, ethanol blending and sustainable aviation fuel.“As democratic countries, we will continue to advance the priorities and aspirations of the Global South. When India and Brazil work together, the voice of the Global South becomes stronger and more confident,” said the PM.Lula said that the meeting was one between a digital superpower and a renewable energy superpower.Brazil joined India in strongly condemning cross-border terrorism, along with the Pahalgam terrorist attack and the Red Fort blast. According to a joint statement, the leaders reaffirmed defense as an integral pillar of the India-Brazil Strategic Partnership and underlined the potential for co-design and co-production by linking India’s Atmanirbhar Bharat with Brazil’s defense industrial base.As expected, there was a strong focus on UN reforms, particularly in the Security Council, including its expansion in both permanent and non-permanent membership categories, for which both countries have been working under the G4 framework that also includes Japan and Germany. The joint statement said that the leaders reaffirmed their commitment for mutual support for permanent membership of the two countries in an expanded UNSC and India welcomed Brazil’s support for India’s candidature for a non-permanent seat for the 2028-29 term.Kumaran said Lula gave a detailed presentation on Brazil’s substantial critical minerals and rare earth reserves. “He said only 30% of their reserves have been explored and there is substantial scope for exploration, processing minerals and also using them. He said Brazil would value India’s partnership,” said the official.
