Brief by Shorts91 Newsdesk / 06:01pm on 20 Feb 2026,Friday India Global
Brazilian President Luiz Inácio Lula da Silva, in an exclusive interview with India Today TV, said India and Brazil can conduct bilateral trade in their own currencies without relying on the US dollar, though cautioned the shift would take time. Lula firmly dismissed speculation about a BRICS common currency, stating no such proposal or internal discussion exists. He described BRICS as a vital voice for the Global South, representing more than half of humanity. Lula set an ambitious target of $30–40 billion in India-Brazil bilateral trade, praised India's technological ecosystem, and announced that Brazilian aircraft manufacturer Embraer will establish a manufacturing plant in India, reducing dependence on US and Chinese supply chains. (PC: X/@Shorts91)
