Brazil-India Trade Corridor — 2026
Bilateral trade architecture, top sectors, and key counterparty exposures.
Brazil-India trade corridor sees ~$10-15B in annual bilateral flows, governed by the India-MERCOSUR Preferential Trade Agreement (PTA, in force since 2009). Brazil is India's largest Latin American trade partner, with strong commodity-manufactured goods complementarity. The IBSA (India-Brazil-South Africa) grouping and BRICS framework provide additional multilateral context.
The PTA covers a limited set of tariff lines (~450 each side at preferential rates), leaving significant scope for upgrade. Indian companies including Tata Motors, Mahindra, Wipro, Infosys, and TCS have direct Brazilian operations. Auto and auto-parts plus pharmaceuticals are notable growth sectors.
Top sectors & sub-sectors
| Sector | Notes |
|---|---|
| Brazil → India · Crude oil | Petrobras + Indian PSU offtake agreements |
| Brazil → India · Soybean + meal | Top global soybean exporter · India feed + oil |
| Brazil → India · Iron ore | Vale mines · BHP exposure · Indian steel feedstock |
| Brazil → India · Sugar (bidirectional) | Bidirectional · cane belt seasonality |
| Brazil → India · Aircraft (Embraer) | Civilian + defence platforms |
| India → Brazil · Pharmaceuticals | Generics + APIs · ANVISA approvals |
| India → Brazil · Auto + parts | Tata, Mahindra, Bajaj operations |
| India → Brazil · Polyester + textiles | Filament yarn + fabrics |