India seeks easier pharma access in Brazil, pushes to expand Mercosur trade pact

India has urged Brazil to provide a more predictable regulatory environment for pharmaceutical products and ease market-access barriers, as New Delhi looks to expand exports to one of Latin America's largest economies, the commerce ministry said on Monday.

The issue was discussed at the eighth meeting of the India-Brazil Trade Monitoring Mechanism (TMM) held in Brasilia, which was attended by Commerce Secretary Rajesh Agarwal.

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The two sides made progress towards facilitating greater market access for Indian pharmaceutical products, with India emphasising the need for clearer and more predictable regulatory pathways.

“India emphasised the need for supporting more predictable regulatory pathways and facilitating greater market access,” the commerce ministry said.

India also highlighted its potential role in expanding access to affordable and quality medicines in Brazil, saying greater market access could help strengthen efforts towards more accessible healthcare.

The discussions also focused on expanding the existing trade agreement between India and the Mercosur bloc, with both sides agreeing to work towards an early finalisation of the terms of reference for negotiations.

Mercosur comprises Brazil, Argentina, Uruguay and Paraguay.

The India-Mercosur Preferential Trade Agreement (PTA), which came into effect on June 1, 2009, currently provides limited tariff concessions covering 450 products. New Delhi and the South American bloc have been looking to broaden its coverage and eventually move towards a more comprehensive trade agreement.

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“The India-Mercosur Preferential Trade Agreement offers considerable scope for expansion and modernisation. With India-Mercosur bilateral trade reaching USD 20.84 billion in 2025, both sides committed to early finalisation of the Terms of Reference,” the ministry said.

The terms of reference will establish the scope, objectives and negotiating framework for the proposed expansion of the trade pact.

Bilateral trade between India and Brazil stood at USD 15.07 billion in 2025-26. The two countries have set a target of raising bilateral trade to USD 30 billion by 2030.

The latest discussions come as India seeks to deepen economic ties with Brazil and expand its presence in the Latin American market, particularly in sectors such as pharmaceuticals, where Indian companies have a significant export footprint.