To reduce dependence on China, India signs rare earth agreement with Brazil India News

New Delhi: Highlights of Modi’s bilateral meeting with Brazilian President Luiz Inacio Lula da Silva on Saturday included cooperation agreements on rare earths and critical minerals, a bilateral trade target of $30 billion by 2030 and solidarity in technology in the global South, which must be inclusive and serve as a bridge for common progress, according to Prime Minister Narendra Modi.Modi said the important mining deal could reduce dependence on China and was an important step towards building a resilient supply chain. Notably, the two leaders discussed the U.S. Supreme Court’s decision to overturn President Donald Trump’s global tariffs and agreed that both sides needed to study its impact.“So, we will basically be on the sidelines to see how the government responds to this judgment, whether to take any further steps and look at the impact on our trade,” MEA Secretary (East) P Kumaran said at a media briefing.In his speech, Lula mentioned trade unilateralism and said that in a turbulent world, both sides need to strengthen and deepen strategic dialogue. He said: “India and Brazil play important roles in the United Nations, the WTO and the G20.” At the same time, he also emphasized the importance of cooperation among BRICS countries.Modi and Lula focused on energy transition and defense and security cooperation, which the prime minister said was a perfect example of mutual trust and strategic harmony. “We will continue to further strengthen this win-win partnership,” the Prime Minister said. India and Brazil signed a total of nine agreements, including one covering the steel supply chain mining sector, and announced that Brazil would extend business visa duration to 10 years for Indian ordinary passport holders.Modi said expanding India’s trade agreement with South American trade bloc Mercosur will further strengthen economic cooperation and that bilateral cooperation in technology and innovation is important for both countries as well as the global South.“We also prioritize cooperation in areas such as artificial intelligence, supercomputers, semiconductors and blockchain,” he said, adding that energy cooperation is also a strong pillar of the relationship, with increasing cooperation in renewable energy, ethanol blends and sustainable aviation fuels.“As democracies, we will continue to advance the priorities and aspirations of the Global South. When India and Brazil work together, the voices of the Global South become stronger and more confident. “Lula said the meeting was a meeting between digital superpowers and renewable energy superpowers.Brazil joins India in strongly condemning cross-border terrorism, as well as the Pahalgam terror attack and the Red Fort blast. According to a joint statement, the two leaders reiterated that defense is an integral pillar of the India-Brazil strategic partnership and highlighted the potential for co-design and co-production by linking India’s Atmanibar Bharat with Brazil’s defense industrial base.As expected, high attention has been paid to the reform of the United Nations, especially the reform of the Security Council, including the expansion of the permanent and non-permanent categories, for which the two countries have been working within the framework of the Quad group, which includes Japan and Germany. The joint statement said that the leaders of the two countries reaffirmed their commitment to jointly support the two countries in becoming permanent members of the expanded United Nations Security Council, and India welcomed Brazil’s support for India’s candidacy for a non-permanent seat in the 2028-29 term.Kumaran said Lula gave a detailed introduction to Brazil’s important mineral and rare earth reserves. “He said Brazil has only explored 30% of its reserves and there is still a lot of room for exploration, processing and utilization. He said Brazil will value India’s partnership,” the official said.