New Delhi: Luiz Inacio Lula da Silva on Saturday inaugurated the first office of the Brazilian Trade and Investment Promotion Agency (Apex) in New Delhi, marking a major step in strengthening India-Brazil trade and investment ties.

“This agency works to promote Brazilian products and services abroad and to attract foreign investments to strategic sectors of the Brazilian economy,” President Lula said in a post on X.

He added, “Brazil and India are two of the largest nations of the Global South. Our trade flow reached US$15.2 billion in 2025, with significant room for growth. I was accompanied by government ministers and the president of Apex, Jorge Viana.”

High-profile state visit

President Lula arrived in India this week with the largest-ever Brazilian business delegation abroad, including over 260 companies, 14 cabinet ministers, and several top CEOs. The visit underscores trade and economic cooperation as the central pillar of bilateral engagement, particularly as India and Brazil explore market diversification amid global trade shifts triggered by US tariff policies.

Lula also participated in the AI Impact Summit in New Delhi on Wednesday, highlighting technology, digital public infrastructure, and the role of artificial intelligence in inclusive growth, signalling a growing dimension of India-Brazil cooperation in technology.

Bilateral talks with India

On February 21, Lula is scheduled to hold extensive bilateral discussions with Narendra Modi. The Ministry of External Affairs (MEA) stated that the talks will cover the full spectrum of bilateral relations, including trade, investment, energy, defence, digital technologies, and people-to-people connections.

“The leaders will also exchange views on regional and global issues of mutual interest, including multilateral cooperation, reformed global governance, and initiatives for the Global South,” the MEA added.

Strategic partnership and economic engagement

Trade and economic collaboration have emerged as the driving force of Lula’s visit, reflecting Brasilia’s focus on deepening South-South cooperation and strengthening commercial ties with New Delhi amid shifting global supply chains.

India and Brazil elevated their relationship to a Strategic Partnership in 2006, anchored in shared democratic values and a vision for inclusive development. Both countries continue to collaborate in plurilateral and multilateral forums such as BRICS, IBSA, the G20, the United Nations, the World Trade Organisation, and UNESCO.

The opening of Apex’s office in New Delhi marks a key milestone in expanding Brazil-India trade, investment, and technology cooperation.

IANS