Latest news with #India-Mercosur
Hindustan Times
09-07-2025
- Business
- Hindustan Times
India, Brazil vow to double trade to $20bn in 5 years
New Delhi India and Brazil on Tuesday set a target of almost doubling their bilateral trade to $20 billion over the next five years as Prime Minister Narendra Modi and President Luiz Inácio Lula da Silva held talks on expanding collaboration in areas ranging from defence to trade and technology. Prime Minister Narendra Modi and Brazil's President Luiz Inacio Lula da Silva during a welcome ceremony at Alvorada Palace in Brasilia. (AFP) During their meeting, both leaders reaffirmed their commitment to a 'zero tolerance' approach in the fight against terror and opposed both terrorism and those who support the menace. Modi travelled to the capital Brasilia for the bilateral meeting with Lula after attending the Brics Summit in Rio de Janeiro. The two sides signed six agreements, including a pact on combating international terrorism and transnational organised crime and another on the exchange and mutual protection of classified information. They also signed memorandums of understanding (MoUs) on cooperation in renewable energy, sharing large-scale solutions for digital transformation, intellectual property, and agricultural research. 'In today's discussions, we talked about strengthening cooperation in every field. We have set a target to take bilateral trade to $20 billion in the coming five years,' Modi said at a joint media interaction with Lula. 'Football is the passion of Brazil, cricket is the passion of the people of India. Whether the ball crosses the boundary or scores a goal, when both are in the same team, a partnership of $20 billion is not difficult. We will also work together to expand the India-Mercosur preferential trade agreement,' he said, speaking in Hindi. Brazil is currently India's largest trade partner in South trade was worth $12.2 billion in 2024-25, with Indian exports amounting to $6.77 billion. Major Indian exports included diesel, insecticides, chemicals, pharmaceuticals and engineering products. Brazilian exports included crude oil, soya oil, gold, raw sugar, cotton, wood, and iron ore. Modi also pointed to growing cooperation in energy and said the environment and clean energy are key priorities of both countries. 'The growing cooperation in the field of defence is a symbol of our deep mutual trust. We will continue our efforts to connect our defence industries,' he said. Cooperation in artificial intelligence and supercomputers is growing and both sides are working on the adoption of India's Unified Payment Interface (UPI) digital payments system in Brazil. 'We will be happy to share India's successful experience in areas like digital public infrastructure and space with Brazil,' Modi said. In the context of counter-terrorism, Modi said both countries have similar thinking on the fight against the menace based on 'zero tolerance and zero double standards'. He added, 'We are clear that there is no place for double standards on terrorism. We strongly oppose terrorism and those who support terrorism.' Shortly after India launched Operation Sindoor on May 7 in retaliation for the Pahalgam terror attack, Lula had extended support in the fight against terrorism during a phone call with Modi on May 8. India and Brazil, Modi said, have always worked in close coordination at the global level. 'As two large democratic countries, our cooperation is relevant not only for the Global South, but for the entire humanity. We believe that it is our moral obligation to raise the concerns and priorities of the Global South at global forums,' he said. At a time when the world is grappling with tension and uncertainty, the India-Brazil partnership is an 'important pillar of stability and balance' Modi said. 'We are unanimous that all disputes should be resolved through dialogue and diplomacy,' he added. Lula conferred the Grand Collar of the National Order of the Southern Cross, one of Brazil's highest civilian honours, on Modi.
Time of India
09-07-2025
- Business
- Time of India
PM Modi, Brazil President Lula set bilateral trade target of USD 20 billion in next five years: MEA
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Brasilia: Noting ample opportunities for diversifying and expanding bilateral trade, Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva have set a target of 20 billion dollars to be achieved in the next five years, the Ministry of External Affairs two leaders discussed the "entire spectrum of the partnership", Ministry of External Affairs ( MEA ) Secretary (East) P Kumaran said in Brasilia on Tuesday (local time), while addressing a special briefing on PM Modi 's State visit to Brazil He stated that PM Modi and President Lula discussed defence and security, agriculture, food and nutritional security, energy transformation and climate change, digital transformation, artificial intelligence and other emerging technologies and industrial partnerships."The two leaders noted that ample opportunities lie ahead for diversifying and expanding bilateral trade. They set a bilateral trade target of 20 billion dollars to be achieved in the next five years. They also decided to elevate the level of trade talks and establish a ministerial-level mechanism for monitoring trade, commerce and investment-related matters," the MEA said."PM requested the support of Brazil in expanding the India-Mercosur trade agreement, especially given the fact that Brazil is the pro-term president for the rest of the year, noting that such an expansion can bring mutual benefits for both sides. President Lula conveyed Brazil's support towards expansion of India-Mercosur PTA and instructed his team to work towards such expansion," he MEA said that PM Modi was accorded a ceremonial welcome at the Brazilian President's official residence."Prime Minister Narendra Modi arrived in Brasilia on a State visit yesterday evening after participating in the successful BRICS Summit held on 6th and 7th July at Rio . Prime Minister, on arrival, received a warm welcome from the Indian community. The visit to Brazil is the fourth visit in the last 10 years by PM Modi to Brazil. Infact, this is the second ever bilateral visit by an Indian Prime Minister to Brazil taking place after 57 years. The Prime Minister had earlier visited Brazil on three occasions, the first visit was in July 2014, followed by a visit in 2019, both were to attend BRICS Summits, and thereafter in November last year to participate in the G20 Summit in, all for multilateral said, "The Prime Minister was received warmly by President Lula and was accorded a ceremonial welcome on his arrival at Palacio de Alvarada , the official residence of the President of Brazil. To begin with, the Prime Minister held a restricted meeting with President Lula followed by delegation-level talks. The Prime Minister took the opportunity to thank President Lula for extending warm and gracious hospitality to him and his delegation in Brasilia as well as in Rio.""During the bilateral talks, both leaders discussed the entire spectrum of the partnership. Let me try and list out some of the key areas that were discussed. It includes defence and security, agriculture, food and nutritional security, energy transformation and climate change, digital transformation, artificial intelligence and other emerging technologies, industrial partnerships, including defence industries, critical minerals, oil and gas, and also bioenergy and pharmaceutical industry, and also business and private sector cooperation, including trade and investments. They also had an opportunity to talk about healthcare and traditional medicine, tourism, space, science and technology, and cooperation in the area of digital public infrastructure," he to Kumaran, the two leaders reiterated their commitment to work together towards climate action and sustainability. He said PM Modi reaffirmed India 's support and wished President Lula success towards holding the COP30 climate change conference in said, "Highlighting the global challenge of climate change, both leaders reiterated their commitment to work together towards climate action and sustainability. Prime Minister reaffirmed India's support and wished President Lula success in holding the forthcoming COP30 climate change conference in Brazil.""Brazil's rich reserves of critical minerals, including lithium, copper and rare earth elements, aligned with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth. Both leaders welcomed possible opportunities for collaboration in the area of mining, processing and refining of critical minerals," he stated that PM Modi, during the meeting, proposed enhanced collaboration in sharing knowledge, best practices and technology transfer in various areas. He stated that the two leaders also discussed other areas of cooperation, including health and pharmaceutical said, "Both leaders also acknowledged the importance of the agriculture sector and its significant contribution to the economies on both sides. The Prime Minister proposed enhanced collaboration in sharing knowledge, best practices and technology transfer in various areas. It was also noted that both sides signed an MoU on cooperation and agricultural research. Other areas of cooperation that were discussed include health and pharmaceutical sectors, especially on India's request for fast-tracking approval for entry into the Brazilian market for medicines that have been already approved by the US FDA or the European Directive for the Quality of Medicines (EDQM) for imports of medicines from India into Brazil.""The Indian side mentioned that this can result in cost-effective medical products in the Brazilian market. There was also discussion on collaboration in the area of digitalization and digital public infrastructure. There was also talk about enhancing people-to-people relations and connectivity, cooperation in the area of sports and sports management, capacity building, highlighting India's strengths in cricket and Brazil's strength in football."After the delegation-level talks, there was a signing and exchange of MoUs and agreements. Three agreements were signed today and exchanged in front of the President and the Prime Minister. These were the agreements on cooperation in combating international terrorism and transnational organised crime, an MoU on cooperation for the sharing of successful large-scale digital solutions for digital transformation, MoU on cooperation in renewable energy."Sharing details regarding the Memorandum of Understanding (MoUs) set to be signed between two nations, he said, "Three more agreements are ready to be signed and will be signed later today. These include an MoU on agricultural research between the concerned bodies on two sides, an agreement on the exchange and mutual protection of classified information, and an MoU for cooperation in the field of intellectual property, After the signing of the agreements, the Prime Minister was conferred with the Grand Collar of the National Order of the Southern Cross by President Lula. The Prime Minister dedicated this award to the Indian people and to the enduring friendship between the two countries."Kumaran stated that President Lula hosted a banquet lunch in honour of Prime Minister Modi and the two leaders discussed regional and multilateral issues of mutual interest."It was followed by a joint press statement between the two leaders. President Lula hosted a banquet lunch in honour of Prime Minister Modi. Over lunch, the two leaders exchanged views on regional and multilateral issues of mutual interest, especially on issues concerning the Global South and their determination to enhance South-South cooperation, including collaboration across the two countries, was all global platforms of which India and Brazil are members, such as BRICS, G20, IPSA, and also the UN," he Secretary announced that PM Modi invited President Lula for a visit to India and the invitation was accepted by the latter. He said, "The Prime Minister invited President Lula to pay a visit to India, and the invitation was generously accepted by President Lula."Kumaran said, "I just want to highlight one point that I missed out earlier. On security interviews, the Prime Minister thanked President Lula for expressing firm condemnation and extending support and solidarity to the people of India in the aftermath of the Pahalgam terror attack on the 22nd of April that killed 26 innocent citizens. The Prime Minister also reaffirmed that India stands firm in its resolve to fight terrorism in all its forms and manifestations. President Lula expressed his full support in the fight against the menace of terrorism."PM Modi arrived in Brazil on Saturday (local time) after concluding his visit to Argentina, where he held a bilateral meeting with Argentine President Javier Milei. After Brazil, PM Modi will head to Namibia on July 9 and also address its parliament.
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Business Standard
09-07-2025
- Business
- Business Standard
PM Modi, Brazil President set $20 bn trade target for next 5 years: MEA
Noting ample opportunities for diversifying and expanding bilateral trade, Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva have set a target of 20 billion dollars to be achieved in the next five years, the Ministry of External Affairs said. The two leaders discussed the "entire spectrum of the partnership", Ministry of External Affairs (MEA) Secretary (East) P Kumaran said in Brasilia on Tuesday (local time), while addressing a special briefing on PM Modi's State visit to Brazil. He stated that PM Modi and President Lula discussed defence and security, agriculture, food and nutritional security, energy transformation and climate change, digital transformation, artificial intelligence and other emerging technologies and industrial partnerships. "The two leaders noted that ample opportunities lie ahead for diversifying and expanding bilateral trade. They set a bilateral trade target of 20 billion dollars to be achieved in the next five years. They also decided to elevate the level of trade talks and establish a ministerial-level mechanism for monitoring trade, commerce and investment-related matters," the MEA said. "PM requested the support of Brazil in expanding the India-Mercosur trade agreement, especially given the fact that Brazil is the pro-term president for the rest of the year, noting that such an expansion can bring mutual benefits for both sides. President Lula conveyed Brazil's support towards expansion of India-Mercosur PTA and instructed his team to work towards such expansion," he added. The MEA said that PM Modi was accorded a ceremonial welcome at the Brazilian President's official residence. "Prime Minister Narendra Modi arrived in Brasilia on a State visit yesterday evening after participating in the successful BRICS Summit held on 6th and 7th July at Rio. Prime Minister, on arrival, received a warm welcome from the Indian community. The visit to Brazil is the fourth visit in the last 10 years by PM Modi to Brazil. Infact, this is the second ever bilateral visit by an Indian Prime Minister to Brazil taking place after 57 years. The Prime Minister had earlier visited Brazil on three occasions, the first visit was in July 2014, followed by a visit in 2019, both were to attend BRICS Summits, and thereafter in November last year to participate in the G20 Summit in, all for multilateral engagements. He said, "The Prime Minister was received warmly by President Lula and was accorded a ceremonial welcome on his arrival at Palacio de Alvarada, the official residence of the President of Brazil. To begin with, the Prime Minister held a restricted meeting with President Lula followed by delegation-level talks. The Prime Minister took the opportunity to thank President Lula for extending warm and gracious hospitality to him and his delegation in Brasilia as well as in Rio." "During the bilateral talks, both leaders discussed the entire spectrum of the partnership. Let me try and list out some of the key areas that were discussed. It includes defence and security, agriculture, food and nutritional security, energy transformation and climate change, digital transformation, artificial intelligence and other emerging technologies, industrial partnerships, including defence industries, critical minerals, oil and gas, and also bioenergy and pharmaceutical industry, and also business and private sector cooperation, including trade and investments. They also had an opportunity to talk about healthcare and traditional medicine, tourism, space, science and technology, and cooperation in the area of digital public infrastructure," he added. According to Kumaran, the two leaders reiterated their commitment to work together towards climate action and sustainability. He said PM Modi reaffirmed India's support and wished President Lula success towards holding the COP30 climate change conference in Brazil. He said, "Highlighting the global challenge of climate change, both leaders reiterated their commitment to work together towards climate action and sustainability. Prime Minister reaffirmed India's support and wished President Lula success in holding the forthcoming COP30 climate change conference in Brazil." "Brazil's rich reserves of critical minerals, including lithium, copper and rare earth elements, aligned with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth. Both leaders welcomed possible opportunities for collaboration in the area of mining, processing and refining of critical minerals," he added. Kumaran stated that PM Modi, during the meeting, proposed enhanced collaboration in sharing knowledge, best practices and technology transfer in various areas. He stated that the two leaders also discussed other areas of cooperation, including health and pharmaceutical sectors. He said, "Both leaders also acknowledged the importance of the agriculture sector and its significant contribution to the economies on both sides. The Prime Minister proposed enhanced collaboration in sharing knowledge, best practices and technology transfer in various areas. It was also noted that both sides signed an MoU on cooperation and agricultural research. Other areas of cooperation that were discussed include health and pharmaceutical sectors, especially on India's request for fast-tracking approval for entry into the Brazilian market for medicines that have been already approved by the US FDA or the European Directive for the Quality of Medicines (EDQM) for imports of medicines from India into Brazil." "The Indian side mentioned that this can result in cost-effective medical products in the Brazilian market. There was also discussion on collaboration in the area of digitalization and digital public infrastructure. There was also talk about enhancing people-to-people relations and connectivity, cooperation in the area of sports and sports management, capacity building, highlighting India's strengths in cricket and Brazil's strength in football. "After the delegation-level talks, there was a signing and exchange of MoUs and agreements. Three agreements were signed today and exchanged in front of the President and the Prime Minister. These were the agreements on cooperation in combating international terrorism and transnational organised crime, an MoU on cooperation for the sharing of successful large-scale digital solutions for digital transformation, MoU on cooperation in renewable energy." Sharing details regarding the Memorandum of Understanding (MoUs) set to be signed between two nations, he said, "Three more agreements are ready to be signed and will be signed later today. These include an MoU on agricultural research between the concerned bodies on two sides, an agreement on the exchange and mutual protection of classified information, and an MoU for cooperation in the field of intellectual property, After the signing of the agreements, the Prime Minister was conferred with the Grand Collar of the National Order of the Southern Cross by President Lula. The Prime Minister dedicated this award to the Indian people and to the enduring friendship between the two countries." Kumaran stated that President Lula hosted a banquet lunch in honour of Prime Minister Modi and the two leaders discussed regional and multilateral issues of mutual interest. "It was followed by a joint press statement between the two leaders. President Lula hosted a banquet lunch in honour of Prime Minister Modi. Over lunch, the two leaders exchanged views on regional and multilateral issues of mutual interest, especially on issues concerning the Global South and their determination to enhance South-South cooperation, including collaboration across the two countries, was all global platforms of which India and Brazil are members, such as BRICS, G20, IPSA, and also the UN," he said. MEA Secretary announced that PM Modi invited President Lula for a visit to India and the invitation was accepted by the latter. He said, "The Prime Minister invited President Lula to pay a visit to India, and the invitation was generously accepted by President Lula." Kumaran said, "I just want to highlight one point that I missed out earlier. On security interviews, the Prime Minister thanked President Lula for expressing firm condemnation and extending support and solidarity to the people of India in the aftermath of the Pahalgam terror attack on the 22nd of April that killed 26 innocent citizens. The Prime Minister also reaffirmed that India stands firm in its resolve to fight terrorism in all its forms and manifestations. President Lula expressed his full support in the fight against the menace of terrorism." PM Modi arrived in Brazil on Saturday (local time) after concluding his visit to Argentina, where he held a bilateral meeting with Argentine President Javier Milei. After Brazil, PM Modi will head to Namibia on July 9 and also address its parliament. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India Gazette
08-07-2025
- Business
- India Gazette
PM Modi, Brazil President Lula set bilateral trade target of USD 20 billion in next five years: MEA
Brasilia [Brazil], July 9 (ANI): Noting ample opportunities for diversifying and expanding bilateral trade, Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva have set a target of 20 billion dollars to be achieved in the next five years, the Ministry of External Affairs said. The two leaders discussed the 'entire spectrum of the partnership', Ministry of External Affairs (MEA) Secretary (East) P Kumaran said in Brasilia on Tuesday (local time), while addressing a special briefing on PM Modi's State visit to Brazil. He stated that PM Modi and President Lula discussed defence and security, agriculture, food and nutritional security, energy transformation and climate change, digital transformation, artificial intelligence and other emerging technologies and industrial partnerships. 'The two leaders noted that ample opportunities lie ahead for diversifying and expanding bilateral trade. They set a bilateral trade target of 20 billion dollars to be achieved in the next five years. They also decided to elevate the level of trade talks and establish a ministerial-level mechanism for monitoring trade, commerce and investment-related matters,' the MEA said. 'PM requested the support of Brazil in expanding the India-Mercosur trade agreement, especially given the fact that Brazil is the pro-term president for the rest of the year, noting that such an expansion can bring mutual benefits for both sides. President Lula conveyed Brazil's support towards expansion of India-Mercosur PTA and instructed his team to work towards such expansion,' he added. The MEA said that PM Modi was accorded a ceremonial welcome at the Brazilian President's official residence. 'Prime Minister Narendra Modi arrived in Brasilia on a State visit yesterday evening after participating in the successful BRICS Summit held on 6th and 7th July at Rio. Prime Minister, on arrival, received a warm welcome from the Indian community. The visit to Brazil is the fourth visit in the last 10 years by PM Modi to Brazil. Infact, this is the second ever bilateral visit by an Indian Prime Minister to Brazil taking place after 57 years. The Prime Minister had earlier visited Brazil on three occasions, the first visit was in July 2014, followed by a visit in 2019, both were to attend BRICS Summits, and thereafter in November last year to participate in the G20 Summit in, all for multilateral engagements. He said, 'The Prime Minister was received warmly by President Lula and was accorded a ceremonial welcome on his arrival at Palacio de Alvarada, the official residence of the President of Brazil. To begin with, the Prime Minister held a restricted meeting with President Lula followed by delegation-level talks. The Prime Minister took the opportunity to thank President Lula for extending warm and gracious hospitality to him and his delegation in Brasilia as well as in Rio.' 'During the bilateral talks, both leaders discussed the entire spectrum of the partnership. Let me try and list out some of the key areas that were discussed. It includes defence and security, agriculture, food and nutritional security, energy transformation and climate change, digital transformation, artificial intelligence and other emerging technologies, industrial partnerships, including defence industries, critical minerals, oil and gas, and also bioenergy and pharmaceutical industry, and also business and private sector cooperation, including trade and investments. They also had an opportunity to talk about healthcare and traditional medicine, tourism, space, science and technology, and cooperation in the area of digital public infrastructure,' he added. According to Kumaran, the two leaders reiterated their commitment to work together towards climate action and sustainability. He said PM Modi reaffirmed India's support and wished President Lula success towards holding the COP30 climate change conference in Brazil. He said, 'Highlighting the global challenge of climate change, both leaders reiterated their commitment to work together towards climate action and sustainability. Prime Minister reaffirmed India's support and wished President Lula success in holding the forthcoming COP30 climate change conference in Brazil.' 'Brazil's rich reserves of critical minerals, including lithium, copper and rare earth elements, aligned with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth. Both leaders welcomed possible opportunities for collaboration in the area of mining, processing and refining of critical minerals,' he added. Kumaran stated that PM Modi, during the meeting, proposed enhanced collaboration in sharing knowledge, best practices and technology transfer in various areas. He stated that the two leaders also discussed other areas of cooperation, including health and pharmaceutical sectors. He said, 'Both leaders also acknowledged the importance of the agriculture sector and its significant contribution to the economies on both sides. The Prime Minister proposed enhanced collaboration in sharing knowledge, best practices and technology transfer in various areas. It was also noted that both sides signed an MoU on cooperation and agricultural research. Other areas of cooperation that were discussed include health and pharmaceutical sectors, especially on India's request for fast-tracking approval for entry into the Brazilian market for medicines that have been already approved by the US FDA or the European Directive for the Quality of Medicines (EDQM) for imports of medicines from India into Brazil.' 'The Indian side mentioned that this can result in cost-effective medical products in the Brazilian market. There was also discussion on collaboration in the area of digitalization and digital public infrastructure. There was also talk about enhancing people-to-people relations and connectivity, cooperation in the area of sports and sports management, capacity building, highlighting India's strengths in cricket and Brazil's strength in football. 'After the delegation-level talks, there was a signing and exchange of MoUs and agreements. Three agreements were signed today and exchanged in front of the President and the Prime Minister. These were the agreements on cooperation in combating international terrorism and transnational organised crime, an MoU on cooperation for the sharing of successful large-scale digital solutions for digital transformation, MoU on cooperation in renewable energy.' Sharing details regarding the Memorandum of Understanding (MoUs) set to be signed between two nations, he said, 'Three more agreements are ready to be signed and will be signed later today. These include an MoU on agricultural research between the concerned bodies on two sides, an agreement on the exchange and mutual protection of classified information, and an MoU for cooperation in the field of intellectual property, After the signing of the agreements, the Prime Minister was conferred with the Grand Collar of the National Order of the Southern Cross by President Lula. The Prime Minister dedicated this award to the Indian people and to the enduring friendship between the two countries.' Kumaran stated that President Lula hosted a banquet lunch in honour of Prime Minister Modi and the two leaders discussed regional and multilateral issues of mutual interest. 'It was followed by a joint press statement between the two leaders. President Lula hosted a banquet lunch in honour of Prime Minister Modi. Over lunch, the two leaders exchanged views on regional and multilateral issues of mutual interest, especially on issues concerning the Global South and their determination to enhance South-South cooperation, including collaboration across the two countries, was all global platforms of which India and Brazil are members, such as BRICS, G20, IPSA, and also the UN,' he said. MEA Secretary announced that PM Modi invited President Lula for a visit to India and the invitation was accepted by the latter. He said, 'The Prime Minister invited President Lula to pay a visit to India, and the invitation was generously accepted by President Lula.' Kumaran said, 'I just want to highlight one point that I missed out earlier. On security interviews, the Prime Minister thanked President Lula for expressing firm condemnation and extending support and solidarity to the people of India in the aftermath of the Pahalgam terror attack on the 22nd of April that killed 26 innocent citizens. The Prime Minister also reaffirmed that India stands firm in its resolve to fight terrorism in all its forms and manifestations. President Lula expressed his full support in the fight against the menace of terrorism.' PM Modi arrived in Brazil on Saturday (local time) after concluding his visit to Argentina, where he held a bilateral meeting with Argentine President Javier Milei. After Brazil, PM Modi will head to Namibia on July 9 and also address its parliament. (ANI)
Daily Tribune
07-07-2025
- Business
- Daily Tribune
Modi, Milei meet in Argentina ahead of BRICS summit
Argentina I ndian Prime Minister Narendra Modi met Argentine President Javier Milei in Buenos Aires yesterday, urging the expansion of New Delhi's preferential trade deal with South America's Mercosur bloc. The bilateral talks with Milei are the latest in Modi's whistle-stop diplomatic tour culminating in the summit of BRICS emerging economies starting on Sunday in Brazil. Diplomats from both countries at the meeting, which included a lunch, decided to "deepen bilateral relations and commercial ties," according to a statement from the Argentine presidency. Indian foreign ministry diplomat Periasamy Kumaran told reporters Modi "requested Argentina's support in expanding the India-Mercosur preferential trade agreement." The Mercosur regional trade bloc, comprising Argentina, Brazil, Paraguay, Uruguay and Bolivia, is seeking closer ties with Asian economies in the face of Trump's global trade war. "The two leaders discussed the necessity of diversifying and expanding bilateral trade" in sectors including defence, technology and health, said Kumaran. They also touched upon cooperation in the energy sector, including gas and petrol, as well as lithium, a key mineral for the clean energy transition. Argentina is the world's fifth largest producer of lithium, according to the US Geological Survey. "Excellent meeting with President Javier Milei of Argentina," Modi wrote on X of the leaders' second bilateral talks. "We have covered significant ground in our bilateral relations, but we agree that the journey ahead is even more promising!"
