Brazil-India Economic Forum, held by ApexBrasil, brings together businesspeople and investors from both countries in Rio de Janeiro
During the Brazil-India Economic Forum, held this Monday (July 7) at the Museum of Tomorrow in Rio de Janeiro, ApexBrasil president Jorge Viana highlighted the untapped potential of the bilateral relationship. He stated that “Brazil has become one of the main global destinations for foreign investment” and assessed that, in the case of India, “we will not have another opportunity as great as this,” given the affinity between the two countries and the current low volume of bilateral trade, still “concentrated on a few products.” Viana also emphasised the federal government’s confidence in the economic outlook. “President Lula has high expectations that we will take advantage of the current situation, a very special moment for foreign trade and the Brazilian economy,” he stated. According to him, “while the world is experiencing tensions, inflation, and a decline in investment and exports, Brazil continues to grow.”
President Luiz Inácio Lula da Silva was unable to attend the event, but assigned the MDIC Executive Secretary, Márcio Elias Rosa, to read his speech. “In the current global context of tariff wars and protectionism, integration between Brazilians and Indians is strategic. We are two of the ten largest economies in the world. We have expanding consumer markets and dynamic and innovative entrepreneurs. But trade flows do not match our potential. In 2024, trade exchanges totalled only $12 billion. Brazil’s export agenda is traditionally concentrated on a few items. We are determined to change this reality,” wrote the Brazilian president.
During the keynote, Ambassador André Corrêa do Lago, president-designate of the climate conference to be held in Belém, emphasised Brazil’s competitive advantage due to its historically clean and diversified energy matrix, including hydroelectric power, biofuels, wind, and solar power, and praised India’s progress in transitioning to renewable sources. “India has accelerated its wind and solar energy production impressively,” he stated.
Corrêa do Lago also pointed out that India’s population scale and growing energy consumption make it a key partner in building a new low-carbon economy, an ambition that will be central to COP30.
The Forum was organised by the Brazilian Trade and Investment Promotion Agency (ApexBrasil), in partnership with the Ministry of Development, Industry, Commerce and Services (MDIC), the Ministry of Foreign Affairs (MRE), the National Confederation of Industry (CNI), the India-Brazil Chamber of Commerce (CCIB) and the Federation of Chambers of Commerce and Industry of India (FICCI).
The event brought together Brazilian and Indian businesspeople and investors, as well as public authorities and representatives from the productive sectors of both countries.
Signing of memoranda
The event also saw the signing of two Memoranda of Understanding (MoUs) by ApexBrasil. The first, signed with the India-Brazil Chamber of Commerce (CCIB), establishes cooperation between the institutions to deepen economic relations between the two countries, with a focus on trade promotion and investment attraction. The second, signed with Nidec-Embraco, whose headquarters are located in Joinville, Santa Catarina, formalises the intention to invest more than US$120 million in the construction of a new compressor factory for residential and commercial refrigeration in the city of Aurangabad, in the state of Maharashtra, India.
Increasing trade and investment
India is one of the fastest-growing economies in the world and has established itself as a priority partner for Brazil. According to a survey by ApexBrasil, Brazilian exports to India have increased by an average of 13.7% per year since 2019, totalling US$5.3 billion in 2024. Highlights include sugar, petroleum, vegetable oils, and raw cotton.
Among the more than 380 business opportunities identified, the fuel, pulp, and machinery and equipment sectors are gaining prominence. The “Sunflower, sesame, canola, cotton, and other oilseeds” group registered average growth of 1,414.9% between 2019 and 2024, driven by the opening of the Indian market to Brazilian sesame.
In terms of investment, India was the sixth-largest Asian investor in Brazil in 2023, with US$2.9 billion in Foreign Direct Investment (FDI). The years 2022 and 2023 saw the highest volumes of Indian investment in the country, in sectors such as energy, pharmaceuticals, and technology.
The data is in the India Trade and Investment Profile study, carried out by ApexBrasil and published in June 2025.
BRICS and IBSA Interaction
Brazil and India, members of BRICS, participated in the bloc’s summit held on July 6th and 7th in Rio de Janeiro. The group acts as a platform for coordination between major emerging economies, focusing on promoting a more just and representative international order.
Cooperation between the two countries also extends to the India, Brazil, South Africa (IBSA) Dialogue Forum, created in 2003, which brings together multicultural democracies with common goals: strengthening multilateralism, deepening trade ties and promoting inclusive social development.
Foreign trade and investment are driving bilateral relations between Brazil and India, with a focus on renewable energy and high-precision agriculture, which are geared toward energy transition and combating hunger.
