• India and Brazil aim to boost trade to $20 billion by 2030.
• A new deal focuses on cooperation in critical minerals and rare earths.
• Both nations are seeking to curb dependence on China for these resources.
• Agreements include collaboration in digital technologies and renewable energy.
• Brazil is India's largest trading partner in Latin America.

Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva met in New Delhi to strengthen bilateral ties, particularly in critical minerals and rare earths. The leaders aim to boost trade cooperation, setting a target to increase bilateral trade to $20 billion by 2030. Brazil possesses the world’s second-largest reserves of these critical elements, which play a vital role in various industries, including electric vehicles and electronics, according to Indiatimes, Al Jazeera, and South China Morning Post.

The agreement on critical minerals is described by Modi as a “major step towards building resilient supply chains”. This initiative comes as India looks to reduce its reliance on China, which currently dominates the rare earth production sector. Rishabh Jain from the Delhi-based Council on Energy, Environment and Water highlighted that this alliance is crucial for securing diversified resource access, in conjunction with India’s other partnerships with countries like the United States and the European Union, according to Channel News Asia and Indiatimes.

Additionally, the leaders finalized multiple memoranda of understanding covering a range of topics, including digital cooperation and renewable energy. Lula noted the importance of collaboration in these areas as they align with the core principles of the newly signed critical minerals agreement. The discussions emphasized the significance of such partnerships in shaping emerging trade and governance frameworks, according to Channel News Asia and South China Morning Post.

Modi underscored Brazil's status as India's largest trading partner in Latin America, confirming that the two countries are not only looking to enhance economic ties but also to strengthen cooperation in areas such as defense and technological advancements. Lula’s visit is marked by a ceremonial welcome and discussions that aim to infuse new momentum into their bilateral relationship, reflected in a range of expected business collaborations and future agreements, according to Al Jazeera, Indiatimes, and South China Morning Post.