On Saturday, Prime Minister Narendra Modi held bilateral talks with Brazilian President Luiz Inácio Lula da Silva in New Delhi, during which both leaders underscored the importance of strengthening multi-faceted cooperation between their nations, representing major players in the Global South. Modi characterized this relationship as a 'win-win partnership,' expressing India's commitment to increasing bilateral trade to over $20 billion in the next five years. He highlighted Brazil's status as India's largest trading partner in Latin America and discussed enhancing collaboration in various sectors, including technology, innovation, defense, health, pharmaceuticals, and traditional medicine.

A key highlight of the talks was the signing of an agreement concerning critical minerals and rare earths, regarded as a significant step towards establishing a robust supply chain for these essential resources. Modi mentioned that defense collaboration is also steadily growing, alongside an increase in Brazil's supply of affordable and quality medicines. Moreover, he advocated for promoting Ayurveda, indicating a stronger cultural and health-related partnership between the two countries.

President Lula echoed Modi's sentiments about India-Brazil relations, highlighting them as a representation of two major democratic forces in the Global South. This partnership not only aims to bolster economic ties but also focuses on addressing challenges faced by developing nations, potentially impacting global dynamics by aligning the interests of these two influential countries. Such initiatives may lead to greater influence for both nations in international forums, fostering unity among developing countries while navigating global economic challenges.