ADVERTISEMENTBriefing mediapersons on the visit later, secretary (east) in the external affairs ministry, P. Kumaran, said Lula gave a detailed presentation on Brazil’s substantial critical minerals and rare earth reserves. Kumaran quoted Lula as saying that Brazil will value India’s partnership in the area of critical minerals, and India will explore ways to take this forward. India’s bilateral trade with Brazil is the largest compared to any other country in South America. India enjoys a trade surplus of about $1.5 billion with Brazil, with our exports totalling about $6.7 billion against imports of about $5.4 billion,” Kumaran said. Discussions were also held on ways to strengthen and diversify bilateral trade through the expansion of the India-Mercosur Preferential Trade Agreement (PTA).

Source: The Telegraph February 21, 2026 23:22 UTC