Washington, February 19: A senior economist from the United States, focusing on India-Brazil relations, stated that Brazilian President Luiz Inácio Lula da Silva’s attendance at the ongoing AI Impact Summit in India, followed by a full state visit, signals a deliberate effort to deepen economic and strategic partnerships between the two largest democracies of the Global South through multilateral cooperation.
Dr. Anit Mukherjee, a senior official at ORF America, emphasized the significance of Lula’s visit. He noted that Prime Minister Narendra Modi had previously attended the BRICS Summit in Rio de Janeiro last year, after which he made a state visit.
Mukherjee highlighted that Lula is accompanied by 14 other cabinet ministers and around 150 business leaders. He remarked, “This indicates that the Brazil-India relationship is not limited to cooperation within G20 or BRICS but is moving towards stronger partnerships in trade, investment, manufacturing, services, and other sectors.”
He pointed out that historically, the relationship between Brazil and India has not been particularly strong. When President Lula came to power in 2001, his vision was to unite three major developing countries: Brazil, India, and South Africa. This initiative led to the formation of IBSA and later BRICS, establishing a solid foundation of trust through high-level dialogues.
Both nations now have a significant economic agenda. Brazil and India are the two largest democracies in the Global South, boasting growing economies and a substantial youth population, along with considerable technological capabilities.
Mukherjee described Brazil as an “agricultural powerhouse” and noted Embraer as the world’s third-largest civilian aircraft manufacturer. He mentioned that major Indian groups like Bajaj and Mahindra have opened factories in Brazil for motorcycle and tractor production. Indian IT firms such as TCS and Infosys have also established connections with the Brazilian market.
He added, “Digital public infrastructure is another emerging area. India has the Unified Payments Interface, the world’s largest instant payment system. Brazil has a similar system called PIX, which together will handle nearly 1 billion transactions daily, comparable to the volume processed by Mastercard and Visa.”
Mukherjee also noted that there are approximately 4,000 non-resident Indians in Brazil, a number that is on the rise. Yoga and Ayurveda are particularly popular in Brazil.
India and Brazil are key members of BRICS and G20, often coordinating their views on development finance, trade reform, and priorities for the Global South. Both countries have emphasized the need for reforms in multilateral institutions and for greater representation of emerging economies in global governance. Over the past decade, trade between the two nations has steadily increased, encompassing agriculture, energy, automobiles, pharmaceuticals, and information technology.
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