7th India–Brazil Trade Monitoring Mechanism meets in New Delhi; India–MERCOSUR PTA expansion discussed
On 7 October 2025 the 7th meeting of the India–Brazil Trade Monitoring Mechanism was held at Vanijya Bhawan, New Delhi, co-chaired by Commerce Secretary Rajesh Agrawal and Brazil's Secretary of Foreign Trade Tatiana Lacerda Prazeres.
Summary
On 7 October 2025 the 7th meeting of the India–Brazil Trade Monitoring Mechanism (TMM) was held at Vanijya Bhawan, New Delhi, co-chaired by Commerce Secretary Rajesh Agrawal and Tatiana Lacerda Prazeres, Secretary of Foreign Trade at Brazil's Ministry of Development, Industry, Trade and Services. The two sides reviewed trade and investment, expansion of the India–MERCOSUR Preferential Trade Agreement, market access and visa issues, and cooperation in pharmaceuticals and healthcare, chemicals, MSMEs and banking. During PM Modi's State visit to Brazil in July 2025, he and President Luiz Inácio Lula da Silva set a target of raising bilateral trade to USD 20 billion within five years. Brazil is India's largest trading partner in Latin America and the Caribbean; bilateral merchandise trade in FY 2024-25 was USD 12.19 billion.
Key facts
- Meeting
- 7th India–Brazil TMM — Vanijya Bhawan, New Delhi, 7 Oct 2025
- Co-chairs
- Rajesh Agrawal; Tatiana Lacerda Prazeres
- Target
- USD 20 bn bilateral trade within 5 years (set July 2025)
- Trade FY25
- USD 12.19 bn merchandise
- Status
- Brazil — India's largest trading partner in Latin America & Caribbean
- Agenda
- India–MERCOSUR PTA expansion; market access; visas
Practice MCQs 2 questions
During PM Modi's July 2025 State visit to Brazil, India and Brazil set a target of raising bilateral trade within five years to:
Show answer
Correct answer: B — USD 20 billion
PIB: the leaders set a target to increase bilateral trade to USD 20 billion over the next five years.
Consider the following statements: 1. Brazil is India's largest trading partner in the Latin American and Caribbean region. 2. India–Brazil bilateral merchandise trade in FY 2024-25 was about USD 20 billion. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. PIB: Brazil is the largest trading partner of India in the LAC region; bilateral merchandise trade in FY 2024-25 stood at USD 12.19 billion (USD 20 billion is the five-year target).