Blitz India Global Affairs Bureau
NEW DELHI: India is turning to Latin America with fresh ambition, working to expand its Preferential Trade Agreement with Mercosur — the bloc led by Brazil and Argentina.
It is part of a broader goal to scale up trade with Latin America and the Caribbean to $100 billion. Brazil and India have adopted electronic certificates of origin, cutting issuance time from up to 48 hours to around two.
New market: India is targeting $100 billion in trade with Latin America, with Mercosur at the centre.
A distant but resource-rich region is moving up India’s trade agenda, as New Delhi eyes Mercosur, courts Brazil, and sets a $100 billion ambition.
At a Glance
• Regional target: $100 bn (Latin America & Caribbean)
• Brazil trade (2025): $15+ bn; $20 bn goal in 5 yrs
• Facilitation: e-Certificates — 48 hrs → ~2 hrs
• Sectors: Energy, agri, pharma, critical minerals
India is now Brazil’s second-largest trading partner in Asia, with bilateral trade exceeding $15 billion in 2025. Cooperation is broadening across defence, energy, agriculture, pharmaceuticals, renewable energy and critical minerals.
The constructive priority is to convert a modest preferential pact into a wider agreement, easing the logistics and financing barriers that distance imposes.
