India and Brazil
India and Brazil cooperate in agriculture, energy, science and reform of international institutions. BRICS, IBSA and the G20 complement a diplomatic relationship that began in 1948.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07A partnership since 2006
Diplomatic relations were established in 1948 and the strategic framework in 2006.
Agriculture, industry and energy
Ties include agricultural products, industrial chains and biofuels.
An agenda with several mechanisms
The plan signed during the Brazilian visit in January 2020 covered investment, energy, health, culture and technological cooperation.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 14,612.75 M USD | 2025 · UN Comtrade / IND |
| Goods: India to Brazil | 6,929.25 M USD | 2025 · UN Comtrade / IND |
| Goods: Brazil to India | 7,683.5 M USD | 2025 · UN Comtrade / IND |
| Services trade | ||
| Export share: India to Brazil | 1.55 % | 2025 · UN Comtrade / IND |
| Export share: Brazil to India | ||
| Investment stock: India in Brazil | ||
| Investment stock: Brazil in India |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: India to Brazil
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Brazil to India
- 2025 · UN Comtrade / IND · Goods; full year; IND reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Export share: India to Brazil
- 2025 · UN Comtrade / IND · Goods share: IND exports to the partner / the same reporter's exports to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | India | Brazil |
|---|---|---|
| Nominal GDP | 3.96 trillion USD2025 · WB | 2.28 trillion USD2025 · WB |
| GDP per capita | 2,702.48 USD2025 · WB | 10,713.29 USD2025 · WB |
| GDP growth | 7.57 %2025 · WB | 2.29 %2025 · WB |
| Policy interest rate | 5.25 %2026-10-06 · RBI | 13.75 %2026-10-07 · Banco Central do Brasil |
| Inflation · annual average | 2.4 %Annual average · 2025 · WB | 5.02 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.82 %provisionalprovisionalYear-on-year · Aug. 2026 · MoSPI | 4.22 %Headline CPI · 2026-08 · year-on-year · Ministério da Fazenda / IBGE |
| Unemployment | 4.22 %ILO est.2025 · WB | 5.97 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -7.4 %IMF est.2025 · IMF | -8.1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 84.1 %IMF est.2025 · IMF | 93.3 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.42 %2025 · WB | -2.93 %2025 · WB |
| Population | 1,463,865,5252025 · WB | 212,812,4052025 · WB |
| Area | 3,287,260 km²2023 · BM / FAO | 8,510,420 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDIndia: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personIndia: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)India: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)India: 2026-10-06 · RBI policy repo rate · Reserve Bank of India (RBI) · Access date for Current Rates; does not represent a new decision on 6 October. · Alternative official source; verified 2026-10-06Brazil: 2026-10-07 · Target for the Selic rate, annual percentage · Banco Central do Brasil · Official monetary-policy target, not the effective daily interbank rate.
- Inflation · annual average
- Average annual change in headline CPI (%)India: 2025 · Average annual CPI change (%) · World BankBrazil: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedIndia: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · MoSPI / Press Information Bureau, Government of India · Published: 2026-09-14 · provisional · Provisional · Combined rural and urban headline CPI, 2024 base; provisional MoSPI figure. Not food or wholesale inflation. Provisional figure or official advance release; subject to revision.Brazil: 2026-08 · Headline IPCA; urban coverage of the SNIPC system · Ministério da Fazenda / IBGE · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionIndia: 2025 · World Bank · ILO est.Brazil: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)India: 2025 · IMF — World Economic Outlook · IMF est.Brazil: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)India: 2025 · IMF — World Economic Outlook · IMF est.Brazil: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPIndia: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleIndia: 2025 · World BankBrazil: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Area
- Total area in km²; territorial coverage of the sourceIndia: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOBrazil: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
India to Brazil
| Product or sector | Value / share |
|---|---|
| Vehicles and components | 805.7 M USD2025 · Source |
| Mineral fuels and oils | 803.6 M USD2025 · Source |
| Machinery and mechanical appliances | 775.8 M USD2025 · Source |
| Pharmaceutical products | 596.7 M USD2025 · Source |
| Electrical and electronic equipment | 198.3 M USD2025 · Source |
| Metal ores | 0 M USD2025 · Source |
Brazil to India
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 1,900.9 M USD2025 · Source |
| Metal ores | 738.6 M USD2025 · Source |
| Machinery and mechanical appliances | 126.8 M USD2025 · Source |
| Pharmaceutical products | 58.2 M USD2025 · Source |
| Electrical and electronic equipment | 35.5 M USD2025 · Source |
| Vehicles and components | 12.9 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | India to Brazil | Brazil to India |
|---|---|---|---|
| 2021 | 11,190.7 | 6,262.2 | 4,928.5 |
| 2022 | 16,840.6 | 9,724.3 | 7,116.2 |
| 2023 | 13,134.1 | 6,664.5 | 6,469.6 |
| 2024 | 11,944.5 | 6,442.9 | 5,501.6 |
| 2025 | 14,612.8 | 6,929.3 | 7,683.5 |
Connections between people
Scientific, cultural and agricultural exchanges accompany political forums. BRICS participation does not imply automatic freedom of residence or employment. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from India living in Brazil | ||
| Residents from Brazil living in India | ||
| Study and training: India in Brazil | ||
| Study and training: Brazil in India | ||
| Academic stays: India in Brazil | ||
| Academic stays: Brazil in India | ||
| Travel: India to Brazil | ||
| Travel: Brazil to India |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
A partnership since 2006
Diplomatic relations were established in 1948 and the strategic framework in 2006. The joint commission and trade, defense and science mechanisms follow up on different cooperation areas. [1]
Agriculture, industry and energy
Ties include agricultural products, industrial chains and biofuels. Cooperation on cattle breeds and agricultural knowledge is a historical example of technical transfer not summarized by one year's trade values. [1]
Cooperation between Global South societies
IBSA brings together India, Brazil and South Africa, while BRICS and the G20 offer other coordination forums. Scientific, cultural and consular collaboration links institutions as well as governments. [1]
The scale of both economies
Nominal GDP for India is 3,956.1 billion USD (2025), compared with 2,279.9 for Brazil (2025). The reference populations are 1,463.87 and 212.81 million, respectively. In the same year, the economy of India was 1.74 times that of Brazil in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6] [7] [8]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
An agenda with several mechanisms
The plan signed during the Brazilian visit in January 2020 covered investment, energy, health, culture and technological cooperation. Parliamentary contacts in June 2025 added political follow-up; each mechanism's decisions have their own timeline. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (India and Brazil) totalled 14,612.8 million current USD. Shipments from the first to the second were 6,929.3 million; those in the opposite direction, 7,683.5 million. The difference between the two flows was 754.2 million, in favour of Brazil. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from India to the partner represented 1.55% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 11,190.7 million USD in 2021 and 14,612.8 million in 2025. The change between the two endpoints was +30.6 % in current dollars. The highest annual value in the period was recorded in 2022, at 16,840.6 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, vehicles and components stands out in shipments from India to Brazil, at 805.7 million USD in 2025. Within the selected chapters, mineral fuels and oils stands out in shipments from Brazil to India, at 1,900.9 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Milestones and consequences
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral diplomatic document
Ministry of External Affairs of India · Institutional source · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 699; partners 0,124,484,76,32,404,231,818,616,702,764
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- Trade series 2021–2025
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- Selected HS2 chapters; reporter 699; annual 2025; same partner/flow/coverage as total
UN Comtrade / IND · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / IND
2026-10-07 · Accessed: 2026-10-07 · Selected HS2 chapters; reporter 699; annual 2025; same partner/flow/coverage as total.