Lula win in Brazil a lease of life for BRICS, relief for India
Cooperation areas
Source: THE WEEK | Original Published At: 2026-10-29 10:02:48 UTC
Key Points
- Luiz Inácio Lula da Silva was re-elected as President of Brazil for a fourth term on October 25.
- BRICS decisions require unanimity among its 11 full members, allowing any member to block policy statements, new admissions, and positions on global issues.
- The article links Lula’s re-election to continuity in Brazil’s BRICS engagement, noting that he is described as one of the original architects of BRICS.
- India-Brazil trade is reported to have increased from $12 billion in 2024 to $15 billion in 2025, with a target of $30 billion by 2030.
- Rare earths and critical minerals are highlighted as a key area of India-Brazil trade potential, with Brazil holding the world’s second-largest rare earth deposits but producing less than 1% of global output.
- The article says India is seeking to diversify rare earth sources away from China and sees Brazil as a potential partner.