NEW DELHI, Feb 21, (V7N) - Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva are set to meet in New Delhi today to strengthen cooperation on critical minerals and rare earths.

Brazil, home to the world’s second-largest reserves of rare earths, is a key potential supplier for India, which is seeking to reduce dependence on China. Officials said the two leaders are expected to sign a memorandum on minerals and discuss expanding trade links.

Bilateral trade between India and Brazil reached $15 billion in 2025, with a target of $20 billion by 2030. Brazil’s key exports to India include sugar, crude oil, cotton, and iron ore.

Experts say India’s cooperation with Brazil complements recent supply chain engagements with the United States, France, and the European Union.

The leaders are also expected to discuss global economic challenges, including strains on multilateral trade systems after both countries faced US tariffs. Washington has since pledged to roll back duties on Indian goods under a new trade deal.

Brazilian firms are expanding in India, with Embraer and Adani Group announcing plans to build aircraft. Lula also addressed the AI Impact Summit in Delhi, calling for inclusive global governance of artificial intelligence.

He will travel next to South Korea for meetings with President Lee Jae Myung and to attend a business forum.

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