Brazil, India and BRICS

How Brazil and India cooperate through BRICS, IBSA and the G20, their trade relationship, and how Brazil hosted the BRICS summit in 2025.

Brazil and India are partners in several groups.

BRICS

The term BRIC was coined by Goldman Sachs economist Jim O’Neill in 2001.
BRICS (Brazil, Russia, India, China, South Africa) began summits in 2009.
It expanded in 2024-25 with members like Egypt, Ethiopia, Iran, the UAE and Indonesia.
Brazil hosted the 2025 BRICS summit in Rio de Janeiro.

New Development Bank

BRICS created the New Development Bank (2015), headquartered in Shanghai. Its first president was India’s K.V. Kamath; former Brazilian president Dilma Rousseff became president in 2023.

IBSA

India, Brazil and South Africa formed the IBSA dialogue in 2003.

G20 handover

India handed the G20 presidency to Brazil in 2023, and Brazil hosted the 2024 summit.

Trade

India buys Brazilian crude oil, sugar, soybean oil and gold.
Brazil buys Indian diesel, pharmaceuticals, chemicals and cars.
Trade is growing but remains modest given both economies’ size.

Shared interests

Both push for reform of global institutions like the UN Security Council and IMF.

The medicine trade

Brazil imports generic medicines from Indian pharma firms, lowering health costs, while India imports Brazilian sugar and soybean oil.

Thinking BRICS is a trade bloc like the EU

It's a diplomatic grouping, not a free trade area.

Key takeaways

BRICS began summits in 2009 and expanded in 2024-25.
Brazil hosted the 2025 BRICS summit.
The New Development Bank was created in 2015.
India and Brazil trade oil, sugar, medicines and chemicals.