♦ The 7th meeting of the India-Brazil Trade Monitoring Mechanism (TMM) was held in New Delhi on 7 October 2025.

♦ The agenda encompassed bilateral trade and investment relationships, alongside plans to broaden the India-Mercosur preferential trade agreement.

♦ The India-Mercosur preferential trade agreement (PTA) became operational on June 1, 2009, with a restricted scope covering 450 tariff lines or products.

♦ The deliberations extended to various sectors including market access, visa regulations, and collaborative opportunities in pharmaceuticals, healthcare, chemicals, petrochemicals, MSME, banking and finance.

♦ Brazil maintains its position as India's primary trading partner in Latin America and the Caribbean region.

♦ The bilateral merchandise trade reached $12.19 billion during 2024-25.

♦ Both nations aim to elevate this figure to $20 billion in the coming five years.