New Delhi: In a deeply personal address at the India-Brazil Economic Forum in New Delhi, Brazilian President Luiz Inácio Lula da Silva shared how India served as the blueprint for Brazil’s transformation from an international debtor to a global creditor. Recalling his first visit to the country in 2005, Lula revealed that witnessing India’s then-massive $100 billion hard currency reserve inspired him to overhaul Brazil’s own economic strategy. This shift allowed Brazil to eventually accumulate $360 billion in reserves, liberating the nation from its dependence on the International Monetary Fund (IMF) and securing its place as a major global economy.
The President’s visit, which began on February 18, has been marked by a blend of high-level economic negotiation and intimate cultural diplomacy. Lula fondly recalled a surprise he had prepared for Prime Minister Narendra Modi during the latter’s 2025 visit to Brazil—researching the Prime Minister’s favorite song and flying a singer to the capital to perform it. In a reciprocal gesture of hospitality, Indian hosts surprised the Brazilian delegation during state functions this weekend by playing classic Brazilian compositions, including the iconic “Asa Branca,” a moment Lula described as deeply moving and symbolic of the “special characteristic” of the bilateral bond.
Beyond the nostalgia, the visit serves a critical strategic purpose in Brazil’s “third term” diplomatic mission. President Lula emphasized his administration’s intense effort to reclaim Brazil’s international standing and negotiating power. In just over three years, Brazil has successfully opened 520 new markets for its goods, a feat Lula described as surpassing even his own ambitious expectations. This drive for market expansion is a cornerstone of the renewed strategic partnership between the two nations, which was further solidified during Lula’s participation in the recent India AI Impact Summit.
As the five-day visit concludes, the dialogue between New Delhi and Brasília has shifted from historical inspiration to future collaboration. With both nations now positioned as influential voices in the Global South, the focus remains on leveraging their shared economic resilience to influence global trade and technology standards. President Lula’s reflections underscore that while the $20 billion trade target is a priority, the relationship is equally rooted in mutual respect and a shared history of developmental triumph.
