Indian Prime Minister Narendra Modi announced the signing of an agreement with Brazil for critical minerals, aiming to increase cooperation in the field of renewable energies.

Indian Prime Minister Narendra Modi announced on Saturday the signing of a significant agreement with Brazilian President Luiz Inacio Lula da Silva, regarding critical minerals and rare earths. This agreement is considered a "major milestone" in building resilient supply chains, aimed at increasing investments and cooperation in the field of renewable energy. Although the details of the agreement have not been made public, it is known that Brazil holds the second largest global reserve of these essential materials for products such as electric vehicles, solar panels, and defense equipment. India, concerned about reducing dependence on China, is developing domestic production and seeking new suppliers.

Modi emphasized that Brazil is India's main trading partner in Latin America, with a goal of increasing bilateral trade to over 20 billion dollars in the next five years. Lula visited India accompanied by a delegation of ministers and businesspeople.