Exim Bank’s study titled “Strengthening India-Brazil Economic Relations through Sustainable Cooperation”, was released at the hands of Shri Hansraj Singh Verma, Consul General of India in São Paulo and Ms. Harsha Bangari, Managing Director, Export-Import Bank of India, on July 10, 2025, at Exim Bank’s newly opened Representative Office in São Paulo, Brazil

São Paulo, Brazil, July 10, 2025: Exim Bank’s recent research publication titled “Strengthening India-Brazil Economic Relations through Sustainable Cooperation”, was released at the hands of Shri Hansraj Singh Verma, Consul General of India in São Paulo and Ms. Harsha Bangari, Managing Director, Export-Import Bank of India, on July 10, 2025, at Exim Bank’s newly opened Representative Office in São Paulo, Brazil. 

Exim Bank’s first Representative Office in the Latin America and Caribbean (LAC) region was earlier virtually inaugurated by Smt. Nirmala Sitharaman, Hon’ble Minister of Finance and Corporate Affairs, Government of India, during Exim Bank’s Trade Conclave on the theme ‘Building Export-led Growth for Viksit Bharat’ on June 24, 2025, in New Delhi. 

Exim Bank’s study highlights that bilateral merchandise trade between India and Brazil has increased from US$ 9.9 billion in 2013 to slightly more than US$ 13 billion in 2023, with India’s exports witnessing a AAGR of 8.2%, increasing from US$ 6.1 billion a decade ago to US$ 6.7 billion in 2023. India’s Imports from Brazil during the same period have nearly doubled to US$ 6.5 billion in 2023, at an AAGR of almost 10%.

The study identified several products that hold potential for increased exports from India to Brazil which include among others, medium oils and preparations, medicaments, herbicides, automotive parts such as engines and tyres, turbojets, articles of iron and steel, and chemical products.

With India and Brazil being strategic partners sharing wide complementarities, the study also points out that that beyond trade there are immense opportunities for collaboration in mutually rewarding areas such as digital infrastructure, digital payment systems, IT services, research and technological innovation, and sustainable and renewable energy, particularly biofuels. The study suggests that to unlock the potential for increased trade and investment, expanding the scope of the India-MERCOSUR Preferential Trade Agreement into a comprehensive free trade agreement could be considered.

India and Brazil could also explore jointly supporting sustainable infrastructure projects, aligning with their national strategies, while leveraging institutions like Brazil’s BNDES, NDB, and Exim Bank, to co-finance renewable energy and clean tech projects, enhancing green development through shared expertise.

For further details please contact: Mr. David Sinate, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: +91-22- 2286 0363; Fax: 022- 2218 0743; E-mail: rag@eximbankindia.in