India Pharma Outlook Team | Monday, 31 August 2026
India-Brazil Trade is set for a major expansion as both countries target USD 30 billion in bilateral trade by 2030.
The India-Brazil Trade partnership is also gaining momentum through wider market access for Indian pharmaceutical products.
India and Brazil reaffirmed their commitment during the 8th India-Brazil Trade Monitoring Mechanism meeting in Brasilia on August 31. The meeting focused on creating a more diversified and balanced trade relationship.
Bilateral trade reached USD 15.07 billion in 2025-26. Both countries now aim to double this figure to USD 30 billion by 2030. Pharmaceuticals, chemicals, engineering goods and machinery were identified as priority sectors.
Brazil has agreed to widen market access for Indian pharmaceutical products. India also called for more predictable regulatory pathways for its medicines.
The discussions highlighted a February 2026 memorandum of understanding between CDSCO and Brazil’s ANVISA. The agreement provides a foundation for stronger cooperation between the two drug regulators.
Greater regulatory cooperation could help Indian pharmaceutical companies expand their presence in Brazil. It could also improve access to affordable medicines in the Brazilian market.
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India and Brazil also reviewed progress on the India-MERCOSUR Terms of Reference. Bilateral trade under the wider framework reached USD 20.84 billion in 2025. Both sides committed to finalizing the terms at an early stage. The goal is to expand and modernize the existing preferential trade agreement.
The discussions also covered several sectors with strong growth potential:
Agriculture also featured in the talks. Both countries advanced work on phytosanitary requests and reciprocal market access. The two sides also made progress on mutual recognition of electronic certificates of origin. Cooperation in MSMEs, entrepreneurship and crafts was also discussed.
India and Brazil agreed to continue cooperation through BRICS, the G20 and the WTO. Brazil also acknowledged India's initiatives during its BRICS presidency. These included the BRICS Startup Knowledge Hub and the BRICS Business Incubator.
India's Commerce Secretary Rajesh Agrawal Co-Chaired the meeting with Brazil's Secretary of Foreign Trade Tatiana Lacerda Prazeres. Agrawal also met Brazil's Development, Industry, Commerce and Services Minister Marcio Elias Rosa.
The discussions focused on strengthening trade and investment ties across priority sectors. A high-level Indian business delegation also attended a reception in Brasilia. It included more than 25 businesses, including Kirloskar Group, UPL and Aditya Birla Group.
Both countries also welcomed the opening of an ApexBrasil office in New Delhi. The office is expected to strengthen business connections and support Brazilian investment in India. The latest talks signal a broader push beyond traditional trade. Both countries are seeking stronger links across manufacturing, technology, energy, agriculture and pharmaceuticals.
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