India and Brazil sign agreement on critical minerals and rare earths in New Delhi on 21 February 2026

Key facts

• Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva signed a landmark agreement to boost cooperation on critical minerals and rare earths at Hyderabad House in New Delhi.
• The agreement aims to build resilient supply chains for minerals used in electric vehicles, solar panels, smartphones, jet engines, and guided missiles to reduce dependence on China.
• Brazil is the world's second-largest holder of critical minerals and the second-largest producer and exporter of iron ore after Australia.
• A total of 10 agreements were signed, including a Memorandum of Understanding (MoU) covering digital cooperation and health.
• The leaders set a target to increase bilateral trade beyond $20 billion within the next five years, noting that Brazil is currently India's largest trading partner in Latin America.
• According to the Observatory of Economic Complexity (OEC), Indian exports to Brazil reached $7.23 billion in 2024, with refined petroleum as the main export.
• Brazilian exports to India totalled $5.38 billion in 2024, with raw sugar being the primary export commodity.