Washington, Feb 19 (NationPress) Brazilian President Luiz Inacio Lula da Silva's journey to India for the AI Impact Summit, followed by a comprehensive state visit, represents a calculated effort by the two largest democracies in the Global South to enhance their relationship beyond mere multilateral cooperation and into a more profound economic and strategic partnership, according to a senior economist based in the US who specializes in India-Brazil relations.

Dr. Anit Mukherjee, Senior Fellow at ORF America, remarked on the significance of this visit during an interview with IANS on Wednesday (local time). He pointed out that Prime Minister Narendra Modi had traveled to Rio de Janeiro the previous year for the BRICS summit, followed by a state visit.

Lula's delegation includes 14 cabinet ministers and approximately 150 business leaders, indicating that the Brazil-India relationship extends beyond coordination within frameworks like G20 or BRICS, and is evolving into a robust partnership in trade, investment, manufacturing, services, and various other domains.

Mukherjee acknowledged that the relationship has not always been strong. He noted, "Historically, the partnership between Brazil and India has faced challenges." However, he identified the early 2000s as a pivotal moment. "When President Lula took office in 2001, he envisioned uniting the three major developing countries: Brazil, India, and South Africa," he explained. This vision culminated in IBSA and later, BRICS, establishing a solid foundation of trust through high-level exchanges.

The two nations now possess a more comprehensive economic agenda. "Brazil and India, as the largest democracies in the Global South, are both expanding economies with substantial young populations and significant technical capabilities," he stated.

Mukherjee described Brazil as an agricultural powerhouse and spotlighted Embraer as the world's third-largest civilian aircraft manufacturer. He highlighted that Indian conglomerates like Bajaj and Mahindra have established factories in Brazil for manufacturing motorcycles and tractors. Additionally, Indian IT firms such as TCS and Infosys maintain strong connections with the Brazilian market.

As for digital public infrastructure, Mukherjee noted that India boasts the Unified Payments Interface, the largest instant payment system globally, while Brazil has a similar setup called PIX. Together, these systems are projected to facilitate nearly 1 billion transactions daily, akin to the transaction volumes of MasterCard and Visa.

Discussing cultural exchanges, he mentioned that the Indian community in Brazil comprises around 4,000 non-resident Indians, a number that is on the rise. Cultural ties are also evident, with practices like yoga and Ayurveda gaining popularity in Brazil.

Both nations are significant players in BRICS and the G20, frequently aligning on issues of development finance, trade reform, and priorities for the Global South. Their partnership has seen growing trade over the last decade across sectors like agriculture, energy, pharmaceuticals, automobiles, and information technology, as they strive to diversify supply chains and enhance South-South cooperation amid changing geopolitical dynamics.