India is calling for a more predictable regulatory environment in Brazil to boost pharmaceutical exports

Image used for representational purposes only. | Photo credit: Reuters

India has called for a more predictable regulatory environment in Brazil to boost exports of pharmaceutical goods, the commerce ministry said on Monday (31 Aug 2026).

The issue came up for discussion during the eighth session of the India-Brazil Trade Monitoring Mechanism (TMM) in Brazil. Commerce Minister Rajesh Agarwal attended the meeting.

The meeting saw progress in facilitating market access for Indian pharmaceutical products.

“India highlighted the need to promote more predictable regulatory pathways and facilitate better market access,” it said.

She added that India can contribute to the availability of affordable, quality medicines and strengthen efforts to make healthcare more accessible.

India and Brazil also agreed to soon finalize the terms for starting negotiations on expanding the scope of the existing trade pact between New Delhi and the South American Mercosur bloc.

Mercosur is a trade bloc in Latin America comprising Brazil, Argentina, Uruguay and Paraguay.

The India-Mercosur Preferential Trade Agreement (PTA) entered into force on 1 June 2009.

This PTA is limited in coverage and covers only 450 tariff items or products. Both sides are considering expanding the scope of this pact to a full-fledged agreement.

“The India-Mercosur Preferential Trade Agreement offers considerable scope for expansion and modernization. With India-Mercosur bilateral trade set to reach $20.84 billion in 2025, both sides are committed to finalizing the terms of reference at an early date,” the ministry said.

The terms of reference mean the agreed framework that sets out the scope, objectives and rules for negotiating a trade pact.

Bilateral trade between India and Brazil to reach $15.07 billion in 2025-26. The goal is to increase the trade volume to 30 billion dollars by 2030.

Published – 31 Aug 2026 11:59 IST