India, Brazil discuss visa, market access issues at Trade Monitoring Mechanism meet

New Delhi: India and Brazil Tuesday discussed issues related to bilateral trade and outlined a roadmap for taking it forward, the government said in a statement.

The discussions, during 7th meeting of India-Brazil Trade Monitoring Mechanism (TMM), included the review of bilateral trade and investment relations, expansion of India-MERCOSUR preferential trade agreement (PTA), market access issues and visa issues, among others.

During the State visit of the Prime Minister Narendra Modi to Brazil in July and meeting with the President of Brazil, Luiz Inacio Lula da Silva, the leaders set a target to increase bilateral trade to $20 billion over the next five years.


Brazil is the largest trading partner of India in the Latin American and Caribbean region. During FY25, the bilateral merchandise trade stood at $12.19 billion.

The outcome of the meeting will be reviewed by the Vice President of Brazil and commerce and industry minister of India during the visit of the former to India next week, it said.

Sectoral collaborations in pharmaceuticals and healthcare, chemicals & petro-chemicals, MSME, banking & finance, promotion of industries and internal trade, multilateral issues and other matters of mutual interest were also discussed during the meeting.