Will Brazilian VP Co-Chair the Inaugural Trade Ministerial Review Meeting with Piyush Goyal Today?
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Synopsis
Brazilian VP Geraldo Alckmin meets with Indian Minister Piyush Goyal today to enhance trade relations. Their discussions follow high-level talks to target USD 20 billion in bilateral trade within five years, marking a significant step in the India-Brazil partnership. Alckmin's visit underscores the commitment to strengthening economic ties.
Key Takeaways
- Geraldo Alckmin meets Piyush Goyal to strengthen trade relations.
- A target of USD 20 billion in bilateral trade is set for the next five years.
- Discussions cover defense cooperation and economic collaboration.
- Alckmin's visit highlights the strategic partnership between India and Brazil.
- Focus on various sectors including pharmaceuticals and MSME.
New Delhi, Oct 16 (NationPress) Geraldo Alckmin, Brazil's Vice President and Minister of Development, Industry, Trade and Services, is set to meet with Union Minister of Commerce and Industry Piyush Goyal on Thursday for the inaugural Trade Ministerial Review Meeting.
This significant gathering follows recent high-level dialogues between Indian and Brazilian authorities aimed at bolstering trade and investment ties between the two nations.
Alckmin landed in India on Wednesday for a two-day official visit, accompanied by a delegation of Cabinet Ministers, senior officials, and business representatives.
Upon his arrival, he had a discussion with Defence Minister Rajnath Singh in New Delhi, which was also attended by Brazilian Defence Minister Jose Mucio Monteiro Filho.
India and Brazil maintain a strategic partnership, and the leaders reviewed a wide array of multifaceted defense relations.
They exchanged insights on areas of mutual interest related to military cooperation, including joint exercises and training initiatives.
According to a statement from the Ministry of Defence, "The leaders evaluated the progress of ongoing defense initiatives and pinpointed priority areas for collaborative endeavors, including opportunities for co-development and co-production of defense equipment."
During his visit, Alckmin is also expected to meet with Vice President C.P. Radhakrishnan, External Affairs Minister S. Jaishankar, and Union Minister for Petroleum and Natural Gas Hardeep Puri to deliberate on various mutual concerns. Additionally, he will be attending the India-Brazil Business Forum and visiting the All India Institute of Ayurveda.
Brazil stands as India's largest trade partner in South America. During Prime Minister Modi's recent state visit to Brazil, the leaders agreed to implement a Ministerial-level Review Mechanism to enhance trade and investment, along with a bilateral trade target of USD 20 billion in the next five years, as stated by the MEA.
The visit of Mr. Alckmin is designed to provide a platform for reviewing bilateral trade and investment, identifying new priority sectors, and outlining a roadmap toward achieving the set trade target while fortifying the multifaceted Strategic Partnership.
This visit coincides with recent discussions between India and Brazil about a roadmap to elevate bilateral trade to USD 20 billion within five years, which was a key topic during the seventh meeting of the India-Brazil Trade Monitoring Mechanism (TMM) held on October 7.
At the meeting in the national capital, both parties engaged in extensive discussions regarding bilateral trade and outlined a strategic roadmap for future collaboration.
Key discussion points included a review of bilateral trade and investment relations, expanding the India-MERCOSUR PTA, addressing market access and visa issues, sectoral collaborations in pharmaceuticals, healthcare, chemicals, petrochemicals, MSME, banking, finance, and promoting internal trade, along with multilateral issues.
During Prime Minister Narendra Modi's state visit to Brazil in July 2025, leaders had established a target to boost bilateral trade to USD 20 billion over the next five years.
Point of View
It is vital to recognize that the ongoing discussions between India and Brazil represent a significant opportunity to strengthen bilateral relations. The focus on enhancing trade and defense cooperation reflects a mutual commitment to a strategic partnership that can benefit both nations, particularly in the evolving global economic landscape.
NationPress
04/12/2025
Frequently Asked Questions
What is the purpose of the Trade Ministerial Review Meeting?
The Trade Ministerial Review Meeting aims to enhance trade and investment relations between India and Brazil, setting a target of USD 20 billion in bilateral trade over the next five years.
Who is attending the meeting?
Brazil's Vice President Geraldo Alckmin and India's Union Minister of Commerce and Industry Piyush Goyal are the key attendees, along with a delegation of ministers and officials from both countries.
What are the expected outcomes of the meeting?
Expected outcomes include a comprehensive review of bilateral trade relations, identification of new priority sectors, and a roadmap to achieve the set trade target.
