In an exclusive interaction, Brazilian President Luiz Inácio Lula da Silva outlines a transformative roadmap for India-Brazil relations, aiming to double bilateral trade to $40 billion. Highlighting a major industrial milestone, he confirms that Brazilian aerospace giant Embraer will establish a manufacturing plant in India. President Lula emphasizes the need for the two largest democracies of the Global South to innovate, suggesting that trade should ideally be conducted in national currencies rather than relying on the US dollar. ‘What I defend is that we can use our own currencies,’ he states, clarifying that while there is no proposal for a unified BRICS currency, bilateral trade in local tenders could improve living standards. The President, accompanied by a 300-member business delegation, expresses keen interest in learning from India’s advancements in space, defense, and pharmaceuticals. He further reiterates BRICS’ collective stance on global conflicts, noting the group’s condemnation of territorial invasions and the humanitarian crisis in Gaza.
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