Charismatic Lula Scripts History: Opportunity For India

The 81-year-old’s victory in the recent Presidential polls, beating all odds, including foreign interference, will go down the history books as one of the greatest comebacks. President Lula not only symbolises millions of aspirational Brazilians, but he is also a figure that can negotiate a complex global environment through defiance and negotiation at the same time.

President Lula is often not credited enough for pulling millions of Brazilians out of poverty and also creating a middle class that boosts its economy. Lula is an idea that has given millions of Brazilians self-pride and confidence and put Brazil on the global map. It is not just Brazil that has rightfully claimed its place in the international community - it is also President Lula, a trade union leader and a founder of BRICS, who is now more relevant than ever as the world navigates complex geopolitics and bullying. 

Lula And India

The Brazilian President has traditionally been bullish on India right from day one when he became the head of state of Latin America’s biggest country and biggest economy. 

Lula has been keen on building a South-South partnership with India and cementing solidarity among emerging markets. His last visit to Delhi this February was a celebration, as he led a 300-member delegation and was accompanied a dozen Ministers to open a new chapter in strategic partnership. It is President Lula’s deep commitment to multipolarity that ensured India delivered a successful BRICS Summit despite deep schisms among a few BRICS members. 

In the words of Prime Minister Narendra Modi during Lula’s February 2026 State visit, “India-Brazil relations have long benefited from President Lula’s vision and inspiring leadership. Over the past few years, I have had the privilege of meeting him on several occasions. On each such interaction, I have personally experienced his deep friendship and abiding trust towards India… I express my sincere appreciation to him for his friendship and for his commitment to the relations between our two countries.”

India-Brazil: Deepening Trade Partnership

Brazil is India’s largest trading partner in Latin America. India and Brazil are hoping to take bilateral trade to US$ 30 billion over the next five years. The trade is not merely a matter of numbers, it is also a reflection of mutual trust.

The expansion of the India-MERCOSUR Trade Agreement will further strengthen economic cooperation. Collaboration in the fields of technology and innovation holds significance not only for two countries but also for the entire Global South.

Delhi and Brasilia are working towards establishing a Centre of Excellence for Digital Public Infrastructure in Brazil, and are also prioritising cooperation in areas such as artificial intelligence, supercomputers, semiconductors, and blockchain.

Energy cooperation has been a strong pillar of partnership. Alongside hydrocarbons, both sides are further accelerating collaboration in renewable energy, ethanol blending, sustainable aviation fuel, and several other emerging areas.

Bharat Petroleum Corporation Ltd (BPCL) signed a one-year deal with Brazil’s state-owned Petrobras in February for purchasing 12 million barrels of crude oil in FY2026-27. New Delhi is also exploring a proposal to allow ONGC Videsh Ltd (OVL) to invest up to US$ 1.17 billion in Brazil’s offshore BM-SEAL-4 block.

Separately, South America’s biggest country has proposed a major partnership, offering increased crude supplies in exchange for Indian investment in Brazil’s refining sector and sharing India's downstream expertise. Brazil holds 17.48 billion barrels of proven crude oil reserves, ranking 15th globally and representing around 0.9% of the world's total.

Brazil’s active participation in the Global Biofuels Alliance reflects a shared commitment to a green and sustainable future. Brazil has also proposed to co-chair the Coalition for Disaster Resilient Infrastructure (CDRI). Brazil’s extensive experience in this domain will make a significant contribution to strengthening it.

From Rare Earths To Defence

Brazil is a rare earths powerhouse. The agreement reached on critical minerals and rare earths marks a significant step towards building resilient supply chains. 

Brazil is actively courting foreign investment, including from India, while pushing to localise the refining and processing value chain. Brazil has an estimated 21 million tonnes of rare earth elements, about a quarter of global reserves, and next only to China’s, along with 26% of the world's graphite, more than 90% of niobium and large deposits of nickel, lithium, and copper. 

Bilateral cooperation in the defence sector is also steadily expanding. It stands as a strong example of mutual trust and strategic alignment between two giants of the Global South. 

The defence industry partnership is expanding. Brazilian aerospace giant Embraer is confident of fulfilling all requirements under the Indian Ministry of Defence (MoD) for 60 medium transport aircraft. Embraer has partnered with the Mahindra Group to manufacture the KC-390 Millennium and establish local Maintenance, Repair, and Overhaul (MRO) capabilities in India if the aircraft is selected by the IAF.

Embraer and Adani Defence & Aerospace have formed a strategic partnership to establish a manufacturing ecosystem in India for Embraer’s civilian aircraft under regional air connectivity project.

There are also immense possibilities for cooperation in the fields of health and pharmaceuticals and agriculture as well. It has been decided to work towards enhancing the supply of affordable and quality medicines from India to Brazil.

India and Brazil complement each other in many fields, from energy to defence to agriculture to AI. President Lula’s victory has presented an opportunity for an India-Brazil Samba that cannot be missed.

(The writer is a commentator on geopolitics and geoeconomics. Views expressed are personal.)