India Is a Highly Important Trading Partner for Brazil: Minister Marcio Rosa

Speaking on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee, Rosa said Brazil's approach was focused on adding new markets rather than replacing established trading partners amid growing geopolitical and commercial uncertainty.

“Brazil has been able to position itself, trying to diversify its markets, strengthening bilateralism, but without actually replacing any partner,” Rosa said through an interpreter.

He emphasised that Brazil's strategy was not intended to exclude any country. “Brazil is not practising an exclusion policy. Brazil is just adding,” he said.

Rosa said the approach had contributed to stronger trade with Asian economies, specifically highlighting India among the markets where Brazil had recorded significant growth.

“So today we have seen significant growth with Asian countries,” he said.

According to Rosa, increased trade with Asian economies had helped offset a contraction in Brazil's economic relationship with the United States over the past 18 months.

“And the retraction that we’ve had with the United States was compensated along these last 18 months,” he said.

The minister also said Brazil was on course for a record year in terms of its trade balance, describing the expected surplus as the largest in the country's history.

Asked about Brazil's economic relationship with India, Rosa described New Delhi as a key trading partner.

“India is a highly important trading partner to Brazil,” he said, adding that India was “an economy that is very important to the whole wide world” and that the two countries maintained good relations.

Brazil's trade diversification efforts are also accompanied by attempts to broaden commercial agreements while maintaining its support for multilateralism and universal trading rules.

India and Brazil have been seeking to deepen economic cooperation through bilateral engagement as well as the Mercosur framework. Areas identified for expanded cooperation include defence, digital technologies, artificial intelligence, skills development and investment.

The two countries have a Strategic Partnership and cooperate through forums including BRICS, IBSA and the G20. Their trade and investment relationship covers sectors such as energy, agriculture, pharmaceuticals and automobiles, with both sides seeking to further expand economic ties.