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Brazil and India have a strong trade relationship, with India importing $33 billion in agricultural products, of which Brazil accounts for $3.3 billion, primarily soybean oil.
Luis Rua, Secretary of Commerce and International Relations at Brazil’s Ministry of Agriculture, highlighted opportunities to enhance this relationship. He remarked that Brazil could expand its agricultural exports to India while being open to receiving Indian agricultural products, subject to sanitary regulations.
He emphasised that 2025 would be a significant year for advancing this bilateral relationship.
“Brazil is mainly exporting soybean oil to India and aims to maintain this trade flow,” Rua noted. He also pointed out the potential to diversify the bilateral trade agenda by including more products.
According to Rua, “Strengthening the trade agreement between Brazil and India could be instrumental in this regard, especially by increasing the number of tariff lines for agricultural products currently excluded from the agreement.”
Sumit Gupta, CEO-Asia Business at McDonald Pelz Global Commodities, provided insights into the domestic challenges India faces in agricultural productivity.
He observed that while there are various schemes and incentives aimed at promoting self-reliance under the Atmanirbhar Bharat initiative, issues such as stagnant yields in pulses and oilseeds have persisted for decades.
Gupta remarked, “A lot will depend on how these schemes and promises translate on the ground. Until then, India will continue to rely on international trade linkages.”
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