TheInterviewTimes.com | February 21, 2026 | 08:14 PM IST | New Delhi
Modi Lula Summit New Delhi: Prime Minister Modi and Brazil’s President Lula signed critical minerals MoU in New Delhi, targeting $20 billion trade. Latest updates on agreements, BRICS solidarity, AI Summit amid trade tensions with US. Full coverage.
Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva held landmark bilateral talks in New Delhi on February 21, 2026, exchanging multiple agreements to strengthen strategic ties. The meeting capped Lula’s state visit from February 18 to 22, featuring participation in the 2nd AI Impact Summit and a Brazil-India Business Forum. Accompanied by 14 ministers and over 150 CEOs, Lula underscored Brazil’s commitment to deepening economic engagement with India.
India is honoured to welcome President Lula and his delegation, which includes distinguished ministers and business leaders. India-Brazil relations have long benefited from President Lula’s vision and inspiring leadership. His presence at the AI Summit has also infused new energy… pic.twitter.com/jsVw3MJs8c
— Narendra Modi (@narendramodi) February 21, 2026
Key Agreements Signed
A pivotal memorandum of understanding focused on critical minerals and rare earths, with Modi calling it a “major step towards building resilient supply chains” to reduce reliance on dominant suppliers. Lula described the deal as central to pioneering cooperation in renewables and minerals investments. Additional pacts covered digital public infrastructure, with plans for a Centre of Excellence in Brazil, plus artificial intelligence, supercomputers, semiconductors, blockchain, defence, energy, health, agriculture, and equitable access to medicines.
Trade Targets and Economic Momentum
Bilateral trade hit around $12 billion in 2024-25, with Brazil as India’s top Latin American partner. Leaders set a $20 billion annual target within five years, with Modi emphasizing it as a “reflection of trust” beyond numbers. Expansion of the India-MERCOSUR trade agreement and initiatives like Embraer-Adani collaborations for aircraft manufacturing aim to accelerate growth.
Global South Solidarity and Geopolitics
Discussions addressed UN Security Council reform, multilateralism, and Gaza, reinforcing BRICS coordination under India’s chairmanship. Both nations, hit by US tariffs under President Trump, highlighted shared Global South interests against dollar dominance efforts. Lula’s rapport with Modi was termed “extraordinary,” signaling deeper partnership amid fragmented global dynamics.
As of February 21, 2026 evening, joint press statements confirmed these outcomes, with no further updates reported.
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