Overview

• The Trade Monitoring Mechanism session in New Delhi discussed widening the India–Mercosur preferential trade agreement and broader market access.
• Talks covered sectoral collaboration in pharmaceuticals, healthcare, chemicals and petrochemicals, MSMEs, banking and finance, alongside visa facilitation.
• India’s Commerce Secretary Rajesh Agrawal and Brazil’s Secretary of Foreign Trade Tatiana Lacerda Prazeres co-chaired the meeting.
• The India–Mercosur pact, in force since June 1, 2009, currently offers limited preferences over roughly 450 tariff lines.
• Bilateral merchandise trade reached USD 12.19 billion in 2024–25 with a stated goal of USD 20 billion within five years, and reporting also noted recent U.S. reciprocal tariffs affecting both countries.