The 7th meeting of the India-Brazil Trade Monitoring Mechanism (TMM) was held in New Delhi yesterday. Commerce Secretary Rajesh Agrawal and the Secretary of Foreign Trade of Brazil, Tatiana Lacerda Prazeres, discussed ways to boost bilateral trade and investment, expand the India-MERCOSUR PTA, and enhance collaboration in sectors such as pharmaceuticals, chemicals, MSMEs, and finance.

The outcome of the meeting will be reviewed by the Vice President of Brazil and the Minister of Commerce and Industry of India during the visit of the former to India next week. During the State visit of the Prime Minister Narendra Modi to Brazil in July of this year and meeting with the President of Brazil, H.E. Mr Luiz Inacio Lula da Silva, the leaders set a target to increase bilateral trade to USD 20 billion over the next five years.