India and Brazil sign critical minerals pact to diversify supply chains away from China

India and Brazil signed a pact to boost cooperation on critical minerals and rare earths to diversify away from China, with Modi calling it a major step toward resilient supply chains and Lula stressing renewed energy and mineral collaboration. The nine additional agreements span digital cooperation and health as the two nations aim to push bilateral trade beyond $20 billion in five years. Brazil, a major critical minerals producer, supports a wide range of industries, while India looks to broaden its supplier base after engaging with the US, France, and the EU. 2024 trade data show India’s exports to Brazil at $7.23 billion (refined petroleum main export) and Brazil’s exports to India at $5.38 billion (raw sugar main export).