India and Brazil sign mining pact

India signed a pact with Brazil to strengthen trade ties, focusing on mining and minerals. The agreement was made during Brazilian President Lula's visit to New Delhi.

Brazil, a major iron ore producer, will help improve India's access to essential resources for its steel sector.

Prime Minister Modi expressed a goal to boost bilateral trade from $15 billion to over $20 billion in five years.

The partnership will also explore technology and innovation collaboration.

India and Brazil, strategic partners since 2006, cooperatively address global issues and seek to conduct trade in their own currencies.