Brazil, India have potential to build deeper strategic, economic ties: FM Mauro Vieira

New Delhi: Brazil and India have the potential to develop a much deeper strategic and economic partnership, Brazilian Foreign Minister Mauro Vieira said, highlighting the rapid growth in bilateral trade, expanding business ties and close political coordination between the two countries.

In an interview with Brazilian journalist Leonardo Attuch, founder and editor of Brasil 247, in New Delhi, Vieira praised India's BRICS presidency and said the two countries share broadly similar positions on multilateralism and global governance.

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Vieira said bilateral trade, which was around USD 15 billion last year, is expected to approach USD 20 billion this year. He recalled that Brazilian President Luiz Inacio Lula da Silva and Prime Minister Narendra Modi had set a target of USD 30 billion in bilateral trade by 2030.

However, Vieira said the target could be achieved much earlier if several ongoing business projects materialise.

He pointed to the growing activities of Brazilian companies including Petrobras, Embraer, WEG and Vale in India. He said Embraer is pursuing opportunities in commercial aviation and defence, including its KC-390 and Super Tucano aircraft.

On BRICS, Vieira described India's presidency as successful and said New Delhi had carried forward several initiatives launched during Brazil's recent presidencies of BRICS and the G20.

He also underlined the growing importance of the New Development Bank, saying it could provide developing countries with faster and more flexible financing for major projects.

Addressing perceptions that BRICS is an anti-Western or anti-American grouping, Vieira strongly rejected the characterisation.

"BRICS is a space for negotiation, dialogue and consensus-building," he said, adding that there was "nothing anti-Western" about the grouping.

He also said BRICS discussions on the use of local currencies should not be interpreted as an effort to replace the US dollar. According to Vieira, decisions on currencies used for trade are often made by companies and the private sector.

Speaking about his long-standing ties with External Affairs Minister S Jaishankar, Vieira said their relationship has helped strengthen Brazil-India consultations. He said the two countries frequently coordinate and have "very similar" positions on multilateralism and global governance.

Vieira also highlighted the significance of Chinese President Xi Jinping and Russian President Vladimir Putin attending the BRICS Summit in India. He said their participation demonstrated the importance of BRICS and provided a platform where countries with differences could maintain direct dialogue.

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On the future of BRICS, Vieira said the grouping is likely to enter a consolidation phase after its recent expansion, with a focus on integrating new members and strengthening engagement with partner countries.

He further highlighted Brazil's growing engagement with ASEAN and wider Asian markets, describing it as part of a broader strategy to deepen political, commercial and economic ties across Asia.

On Brazilian foreign policy, Vieira said Brazil remains committed to peace, dialogue, cooperation, international law and negotiated solutions, stressing that the country seeks peaceful coexistence and stronger international cooperation, as reported by Brasil 247.