India Seeks to Broaden Trade Ties with Brazil-Led Mercosur Amid FTA Delays

India aims to enhance its preferential trade agreement with Mercosur, led by

India is currently in talks to expand its preferential trade agreement with the Mercosur bloc, which includes Brazil, Argentina, Bolivia, Paraguay, and Uruguay.
The existing PTA covers approximately 450 tariff lines, with discussions focused on adding more items in agriculture, industrial goods, pharmaceuticals, and textiles.
Rajnath Singh, the Minister of Defence (India), has emphasized the importance of enhancing trade ties, especially as Narendra Modi seeks to strengthen relations with Brazil and its neighbors.

Por Qué Es Relevante

This initiative reflects Indias strategy to diversify its trade partnerships and reduce dependency on traditional markets like the United States dollar. Strengthening ties with Brazil and the Mercosur bloc could bolster economic growth and geopolitical influence in the region.