India and Brazil have set an "aspirational" target of increasing two-way trade to $50 billion by 2030, according to Commerce Secretary Sunil Barthwal. The current bilateral trade stands at $15.2 billion, and the two countries are aiming for $30 billion in the next 3-4 years. During discussions, the two sides also explored market access issues and areas of cooperation, including biofuels and renewables. They also agreed to expand the existing preferential trade agreement between India and Mercosur, a Latin American trading bloc.
