India vs Brazil: GDP, Growth & Trajectory

Turning Point

In 2024, India's GDP stood at $3.91T versus Brazil's $2.18T. A ratio of 1.79x. That single ratio captures a structural reordering of the global economic hierarchy, one that accelerated after the 2008 financial crisis and gathered force through the commodity downturn of the mid-2010s. For most of the twentieth century, Brazil was richer per capita and, in several stretches, comparable to India in total size. The 1.79x gap recorded in 2024 is the widest nominal divergence in the entire 1960-2024 dataset kept by the World Bank. India's output now exceeds Brazil's by more than the economy of Switzerland.

No prior year in the World Bank data had logged a gap that large.

The turning point was not a single year. It was a sequence of shocks that laid bare the structural fault lines in both economies. Brazil suffered back-to-back recessions in 2015 and 2016, output shrinking roughly 3.5% each year, according to World Bank national accounts. A tepid recovery followed, only to be severed by COVID-19. India, meanwhile, held average growth above 6% for much of the 2010s, even as demonetization in 2016 and the messy GST rollout in 2017 disrupted the domestic economy. The commodity price cycle amplified the split. Brazil's fiscal health rode on iron ore, soybeans and crude prices; India, a net commodity importer, gained when energy and mineral prices softened after 2014. The terms-of-trade shock, as the IMF's World Economic Outlook database shows, compressed Brazil's dollar GDP while India stayed relatively insulated.

The pandemic crystallised the divergence. In 2020, India's GDP reached $2.67T. Brazil's contracted to $1.48T. The $1.19T gap had never existed before in nominal terms. Brazil's per-capita GDP fell from $11,372 in 2010 to $7,066 in 2020. A drop of nearly 38% in dollar terms. Hit by currency depreciation and a severe COVID recession. India's per-capita GDP, low in absolute terms at $1,907 in 2020, had climbed steadily from $1,348 a decade earlier. The post-pandemic recovery then widened the chasm. Between 2020 and 2024, India added roughly $1.24T in nominal GDP, Brazil about $700B. By 2024, the gap stood at $1.73T, larger than South Korea's entire GDP.

Then there's the PPP perspective. India's GDP at purchasing power parity reached $16.20T in 2024, third globally behind China and the United States. Brazil's PPP GDP was $4.74T. The PPP ratio of 3.42x far exceeds the nominal 1.79x. In other words, India's real domestic economic mass. The volume of goods and services produced, adjusted for price levels. Has diverged even more dramatically than exchange-rate comparisons suggest. Yet the per-capita PPP numbers tell a different story. At $22,321, Brazil's per-capita PPP GDP remained exactly double India's $11,168 in 2024. Aggregate size and individual prosperity move on separate tracks.

Current State

By 2024, the two economies occupied distinct rungs on the global ladder. India is the world's fifth-largest economy by nominal GDP. In PPP terms, it's third. Brazil ranks ninth and eighth, respectively. Both belong to the G20 and are classified as upper-middle-income. But India sits near the bottom of that bracket, Brazil well inside it. The macro numbers for the latest year reveal a growth gap of around 3 percentage points. India's GDP expanded 6.49% in 2024. Brazil grew 3.41%. Sustained over years, that differential compounds into the divergence paths explored in the historical section below.

Inflation in 2024 showed a kind of convergence. India recorded consumer price inflation of 4.79%, Brazil 4.37%. Both central banks. The Reserve Bank of India and the Banco Central do Brasil. Kept rates restrictive through 2023 and 2024, holding policy rates above neutral to anchor expectations. The headline numbers look similar, but the pressures underneath differ. India's inflation has been driven by volatile food prices, especially cereals and pulses. Brazil's reflects the pass-through of a stronger labour market and services-sector demand, according to the OECD Economic Surveys. Unemployment in 2025 adds texture. India's rate was 4.22%, Brazil's 5.97%. A significant gap, though both figures must be read with caution because each country measures informal work differently in its household surveys.

Government debt tells a different story. India's debt-to-GDP ratio stands around 82%, according to IMF Article IV data, pushed up by pandemic spending and sustained public investment in infrastructure. Brazil's gross public debt exceeds 85% of GDP. A large share is indexed to the Selic rate, creating a tight fiscal-monetary link. Where the money goes matters. India channels more into capital spending. Roads, power, railways. Brazil's budget is dominated by mandatory social-security transfers and public-sector wages, a structural feature the OECD and IMF have flagged repeatedly.

Below is a summary of key comparative indicators for the latest year:

• Nominal GDP (2024): India $3.91T | Brazil $2.18T. Ratio 1.79x
• GDP PPP (2024): India $16.20T | Brazil $4.74T. Ratio 3.42x
• GDP per capita (2024): India $2,695 | Brazil $10,281. Ratio 0.26x
• GDP per capita PPP (2024): India $11,168 | Brazil $22,321. Ratio 0.50x
• GDP growth (2024): India 6.49% | Brazil 3.41%. Difference 3.08 pp
• Population (2024): India 1.45B | Brazil 212.0M. Ratio 6.84x
• Inflation (2024): India 4.79% | Brazil 4.37%
• Unemployment (2025): India 4.22% | Brazil 5.97%
• Life expectancy (2023): India 72.0 years | Brazil 75.9 years

India vs Brazil , Comparative Indicators, Latest Year

Indicator	India	Brazil	Year	Source
GDP (nominal)	$3.91T	$2.18T	2024	World Bank
GDP (PPP)	$16.20T	$4.74T	2024	World Bank
GDP per capita	$2,695	$10,281	2024	World Bank
GDP per capita (PPP)	$11,168	$22,321	2024	World Bank
GDP growth	6.49%	3.41%	2024	World Bank
Population	1.45B	212.0M	2024	World Bank
Inflation	4.79%	4.37%	2024	World Bank
Unemployment	4.22%	5.97%	2025	World Bank
Life expectancy	72.0 yrs	75.9 yrs	2023	World Bank
Agriculture (% of GDP)	16.29%	5.75%	2024	World Bank
Industry (% of GDP)	24.63%	20.94%	2024	World Bank
Services (% of GDP)	49.87%	59.17%	2024	World Bank

Historical Trajectory (1960-2024)

Sixty-four years of data trace a path of convergence, reversal and then a decisive split. In 1960, India's GDP was $37.0B, more than double Brazil's $17.0B. But India's population was already enormous. Per-capita GDP sat at just $85 against Brazil's $235. A ratio of 0.36x. Both economies were agrarian, both embraced import-substitution industrialization through the 1960s and 1970s, and both kept capital accounts largely closed. The per-capita gap reflected Brazil's earlier urbanization, its industrial hub in São Paulo, and a commodity export engine. Coffee, iron ore, soybeans. That generated foreign exchange more steadily than India's diversified but low-productivity farms.

By 1980, nominal GDP had nearly converged: India $186.2B, Brazil $191.6B. The per-capita gap, however, had blown out to 5.9 times, with Brazil at $1,594 and India at $271. This was the hangover decade of Brazil's "economic miracle". Double-digit growth in the early 1970s under the military, fuelled by state-led infrastructure and foreign debt, ran headlong into the oil shocks and the debt crisis that erupted in 1982. India, meanwhile, plodded along at what economists derisively called the "Hindu rate of growth". Around 3.5% through the 1970s. Too slow to lift per-capita incomes much, but stable enough to steer clear of the Latin American boom-bust cycle. The 1980 World Bank figures capture both economies just before the debt crisis rewired Brazil's trajectory for the next fifteen years.

1990 is a structural break. India's GDP reached $321.0B, Brazil's $423.0B. A reversal from the near-parity of 1980. Brazil was now 32% larger in nominal output. Per capita, Brazil's $2,863 was 7.7 times India's $371. Both countries stood on the edge of historic reforms. India would launch its landmark liberalisation in 1991 under Finance Minister Manmohan Singh, dismantling the License Raj and opening to foreign capital. Brazil would implement the Plano Real in 1994 under Finance Minister Fernando Henrique Cardoso, taming hyperinflation that had topped 2,000% a year. The 1990 snapshot is the pre-reform baseline, and it shows just how much ground India had to cover in per-capita terms despite comparable aggregate scale.

Through the 1990s, both economies grew, but Brazil kept its nominal lead. In 2000, India's GDP was $468.4B to Brazil's $655.5B. A ratio of 0.71x. India was still about 29% smaller. But India's growth was quickening into the 6-7% range, powered by IT services and the early returns from the 1991 reforms. Brazil's growth was lumpier, hemmed in by the aftermath of the Asian financial crisis and the 1999 currency devaluation. The per-capita figures for 2000 , India $443, Brazil $3,759. Reveal an 8.5x gap, the widest in the entire dataset. Reform-driven growth had yet to reach India's vast rural economy.

2010 captures the commodity supercycle at its peak. Brazilian GDP surged to $2.21T, lifted by Chinese demand for iron ore and soybeans. India reached $1.68T. Brazil's per-capita GDP hit $11,372. The highest, ever, in nominal dollar terms. India's crossed $1,000 for the first time, at $1,348. The aggregate ratio was 0.76x (India/Brazil): India was still catching up. But that peak was brittle. The commodity price index crested in 2011 and then slid for years. Brazil's fiscal expansion, built on the assumption of sustained commodity revenue, grew unsustainable.

The reckoning is written into the 2020 data. Brazil's GDP collapsed to $1.48T. Lower in nominal dollars than its 2010 level. India, despite a brutal COVID-19 hit of its own, reached $2.67T. Per capita, Brazil fell to $7,066 while India rose to $1,907. The ten-year compound effect is staggering. India's nominal GDP grew at roughly 4.7% annually from 2010 to 2020; Brazil's shrank at about 3.9% per year in dollar terms. Exchange rates amplified the divergence. The Brazilian real depreciated from around 1.76 per US dollar in 2010 to over 5.00 in 2020. The Indian rupee moved more slowly, from about 45 to 74 over the same period, per Reserve Bank of India and Banco Central do Brasil reference rates.

By 2024, the trajectories had settled into a new equilibrium of divergence. India's $3.91T exceeded Brazil's $2.18T by the 1.79x ratio that opens this article. The per-capita gap, however, narrowed in ratio terms even as it widened in dollars. India's per-capita GDP of $2,695 represented 26% of Brazil's $10,281, up from a low of roughly 12% in 2000. This partial convergence. From 0.12x to 0.26x. Is one of the more underappreciated features of the long arc. In PPP terms, the convergence is starker: India's $11,168 in 2024 equals 50% of Brazil's $22,321, up from about 30% in 2000. So the India-Brazil story is not simple divergence. It is asymmetric convergence: rapid at the aggregate level, gradual at the individual level, heavily mediated by exchange rates and population growth differentials.

Per Capita Reality

The headline GDP numbers obscure the most important structural fact. Brazil remains a substantially wealthier society on a per-person basis. In 2024, Brazil's per-capita GDP of $10,281 was 3.8 times India's $2,695 in nominal terms. After adjusting for purchasing power. Goods and services are cheaper in India , Brazil's per-capita PPP GDP of $22,321 was still double India's $11,168. An average Brazilian citizen commands twice the real consumption basket of an average Indian. That gap has narrowed from its extreme of roughly 8.5x in 2000, but it remains the most powerful corrective to any narrative that frames the comparison purely in aggregate terms.

The per-capita trajectory since 1960 reveals three distinct phases. From 1960 to 2000, the gap widened relentlessly: Brazil's lead grew from 2.8x in 1960 ($235 vs. $85) to 8.5x in 2000 ($3,759 vs. $443). This was the era when Brazil urbanised, built a middle class and developed a deep domestic consumer market, while India stayed trapped in low-productivity farming and state-dominated industry. From 2000 to 2010, the gap began to narrow as India accelerated. The per-capita ratio stayed essentially flat in ratio terms. Both economies grew, Brazil lifted by commodities and India by services. Then, from 2010 to 2024, the gap narrowed decisively. India's nominal per-capita GDP rose 100% from $1,348 to $2,695. Brazil's fell 10% from $11,372 to $10,281. The ratio improved from 0.12x to 0.26x over fourteen years.

The PPP per-capita story is more encouraging for both countries, because it strips out exchange-rate distortions. India's PPP per-capita GDP rose from roughly $3,800 in 2000 to $11,168 in 2024. A near threefold increase in real terms. Brazil's rose from about $14,500 to $22,321, a solid but less dramatic improvement. The PPP per-capita ratio moved from roughly 0.26x in 2000 to 0.50x in 2024. The average Indian now commands half the real purchasing power of the average Brazilian, compared to about one-quarter at the turn of the millennium. This convergence is driven by India's sustained productivity growth in services and, increasingly, in manufacturing, set against Brazil's difficulty in generating productivity gains outside the commodity sectors. The OECD's 2023 Economic Survey of Brazil and the IMF's 2024 Article IV consultation with India both analyse these dynamics.

Yet the dollar gap remains punishing. The difference between Brazil's $10,281 and India's $2,695 is $7,586 per person per year. Roughly the per-capita GDP of Thailand. Multiply that by India's 1.45 billion people, and the income shortfall becomes concrete. India would need to add about $11T in nominal GDP to match Brazil's per-capita income at current population levels, a figure that exceeds the combined GDP of Japan and Germany. The demographic section below explores whether India's faster growth and favourable dependency ratios can close this gap within a generation. The arithmetic is daunting. Even at a sustained 6.5% growth rate with stable population, India would need roughly two decades to reach Brazil's 2024 per-capita level. By then, Brazil would have advanced further.

Sector Composition

The sectoral structures reveal two different development models. In 2024, agriculture accounted for 16.29% of India's GDP but employed, according to the Periodic Labour Force Survey, roughly 45% of the workforce. That productivity chasm defines the Indian development challenge. Brazil's agriculture contributed just 5.75% of GDP, a figure that masks one of the world's most productive, technologically advanced farming economies. Brazilian agribusiness. Soybeans, corn, coffee, sugarcane, beef, poultry. Operates at global frontier efficiency, with total factor productivity growth exceeding 3% a year over the past two decades, according to USDA Economic Research Service estimates. India's farm sector, by contrast, remains dominated by smallholders on plots of less than two hectares, monsoon-dependent irrigation and minimum support prices that distort cropping patterns. The paradox: Brazil's much smaller agricultural share generates far larger export revenues than India's massive agricultural workforce.

The industrial sectors look more balanced on paper, but the mix differs. In 2024, industry contributed 24.63% of India's GDP against Brazil's 20.94%. India's industrial base skews toward petroleum refining, chemicals, pharmaceuticals, steel and, increasingly, electronics assembly under the government's Production-Linked Incentive schemes. Brazil's industry is anchored by mining and mineral processing (especially iron ore), automotive manufacturing, aerospace (Embraer), and oil and gas extraction, including the technically demanding pre-salt deepwater fields. Both countries have wrestled with "premature deindustrialisation", the pattern identified by economist Dani Rodrik: manufacturing's share of GDP and employment peaked at lower income levels than in early industrialisers like South Korea or Germany. In Brazil, manufacturing employment as a share of total employment has been declining since the 1990s. In India, manufacturing's share of GDP has stayed stubbornly in the 14-16% range for two decades, never achieving the takeoff that East Asian economies experienced.

Services dominate both economies by output share, but with very different character. India's services sector contributed 49.87% of GDP in 2024, a number that understates its importance because the unorganised sector isn't fully captured. India's strength lies in IT and business process outsourcing. Firms like TCS, Infosys and Wipro have built global delivery networks serving clients in North America and Europe. Export revenues from IT services exceed $200 billion annually, according to NASSCOM. Brazil's services sector, at 59.17% of GDP, is larger as a share but more domestically oriented. Retail, finance, healthcare, education and a sizeable public administration component. Its financial sector is notably sophisticated, with a well-capitalised banking system and one of the world's highest rates of digital payment adoption through the PIX instant payment system. But neither country has developed high-value, exportable services at scale beyond their niches , IT for India, financial and business consulting for Brazil's larger metropolitan regions.

Trade Relationship Between the Two

Bilateral trade between India and Brazil has expanded over the past two decades but remains far below potential, a theme that surfaces repeatedly in diplomatic communiqués and business forums. UN Comtrade data shows two-way merchandise trade fluctuating in the range of $10-15 billion annually in recent years. Less than 1% of each country's total external trade. The composition is commodity-heavy. Brazil's exports to India are dominated by crude petroleum, soybean oil, gold and sugar. India sends back diesel, pharmaceuticals, agrochemicals and textile intermediates. The trade balance historically favours Brazil when commodity prices are high and tilts toward India when they soften. Neither country ranks among the other's top ten trading partners. For India, Brazil is typically its largest trading partner in Latin America; for Brazil, India ranks behind China, the United States, the European Union and several Mercosur neighbours.

The institutional architecture exists but has not produced the expected dynamism. India and Brazil are both members of the G20, the BRICS grouping (with China, Russia and South Africa) and the WTO. The India-Mercosur Preferential Trade Agreement, signed in 2004 and implemented in 2009, provides tariff preferences on about 450 tariff lines from each side. A narrow scope that has limited its impact. Efforts to expand the deal have stalled repeatedly over agricultural market access, particularly India's sensitivity about dairy and poultry imports, and Brazil's reluctance to open its manufactured goods market to Indian generics and chemicals. WTO trade policy reviews note that average applied tariffs remain relatively high: India's simple average MFN tariff exceeds 15%, Brazil's hovers near 11%. There is headroom for meaningful liberalisation if political will materialises.

Investment flows add another dimension. Brazilian companies have established a presence in India in automotive components (Marcopolo bus bodies), banking (Banco do Brasil's representative office) and mining equipment. Indian investments in Brazil have been more substantial. Pharmaceutical firms , Dr. Reddy's, Torrent, Lupin , IT services companies running delivery centres in São Paulo and other cities, and agrochemical manufacturers such as UPL, which acquired Arysta LifeScience and became a major player in Brazil's crop protection market. According to Brazil's Central Bank and India's Department for Promotion of Industry and Internal Trade, cumulative Indian investment in Brazil likely exceeds $8 billion, concentrated in IT, pharmaceuticals and energy. Brazilian investment in India remains below $2 billion. The asymmetry reflects India's earlier and more determined push into Latin American markets by its multinationals, especially in sectors where they have genuine competitive advantages.

Recent shifts in global trade patterns. The reconfiguration of supply chains after COVID-19 and geopolitical frictions. Have opened new possibilities. Both countries have positioned themselves as alternatives or supplements to Chinese supply in specific product categories. India's pharmaceutical industry, already a major supplier of generic drugs to Brazil's public health system (SUS), sees scope for expansion as SUS tries to diversify procurement. Brazil's agricultural exports to India could grow if Indian demand for vegetable oils, pulses and animal protein continues to rise with incomes. The energy dimension is evolving, too: Brazil's pre-salt crude oil, with relatively low carbon intensity, could find a growing market in India's expanding refining sector. At the same time, Indian investments in Brazilian ethanol technology and flex-fuel vehicles represent a potential area for cooperation. In sum, the trade relationship is characterised by a complementarity that remains underexploited. A judgment shared by both ITAMARATY and India's Ministry of External Affairs in their periodic joint statements.

Demographics & Future Outlook

The demographic contrast between India and Brazil is as decisive for their economic futures as any macroeconomic variable. In 2024, India's 1.45 billion people outnumbered Brazil's 212.0 million by a factor of 6.8. India is the world's most populous country, ahead of China. Brazil's population growth has slowed to below 0.5% annually, according to IBGE, and the country is far along in its demographic transition, with a median age of around 34. India's median age is about 28. According to UN Population Division medium-variant projections, India will add roughly 100 million people to its working-age population by 2035. This demographic dividend. A rising share of working-age people relative to dependents. Is a growth tailwind that Brazil has largely exhausted. Brazil's window, when the dependency ratio was declining, peaked roughly between 1995 and 2020, a period that coincided with the commodity supercycle but with relatively modest productivity growth outside the resource sector.

Life expectancy figures underline the developmental gap. India's life expectancy at birth reached 72.0 years in 2023, up from about 62 years in 2000. A gain of roughly ten years in two decades, driven by reduced infant mortality, better immunisation coverage and expanded primary healthcare. Brazil's life expectancy stood at 75.9 years in 2023, up from about 70 years in 2000. The gap has narrowed from roughly eight years to 3.9 years, and India's rate of improvement suggests further convergence is likely. But Brazil's public health system (SUS) provides universal coverage that India's fragmented healthcare market. Underfunded public facilities mixed with heavy out-of-pocket private spending. Does not yet match. That structural advantage in health outcomes will persist even as India gains ground.

The growth outlook, reflected in IMF World Economic Outlook projections and OECD long-term scenarios, points to a continued, though possibly narrowing, growth differential. India's potential growth rate is estimated by the IMF at 6.0-6.5% through the rest of the 2020s, supported by the demographic tailwind, ongoing infrastructure investment and the productivity gains from digital public infrastructure. The so-called "India Stack" of Aadhaar identity, UPI payments and the Account Aggregator framework. Brazil's potential growth is pegged at 2.0-2.5% by the IMF and OECD, constrained by a low savings rate (below 18% of GDP), weak productivity outside agriculture and a fiscal structure that crowds out public investment. If the roughly 4-percentage-point growth gap holds, India's nominal GDP could reach $6-7T by the early 2030s, while Brazil's might reach $3T. Per-capita convergence would continue more slowly: India could reach $4,000-5,000, still well below Brazil's likely $12,000-14,000, assuming moderate real appreciation of both currencies.

The risks to these projections are asymmetric and substantial. For India, the main danger is a failure to create productive employment for the millions entering the workforce each year. The female labour force participation rate remains below 30%, according to the Periodic Labour Force Survey. One of the lowest among major economies. If growth stays capital-intensive and services-oriented, the demographic dividend could sour into a burden of underemployed youth, a scenario Indian policymakers are taking with growing urgency. For Brazil, the principal risk is fiscal. High mandatory spending, an ageing population and political resistance to pension and tax reform could trigger periodic episodes of fiscal stress, currency depreciation and inflation, as happened in 2015-2016. Both countries face the common challenge of climate transition , Brazil as custodian of the Amazon under international scrutiny, India as one of the world's most climate-vulnerable populous nations. The policy responses each chooses will shape their growth trajectories in ways that current models are only beginning to incorporate.

FAQ

Which economy is larger: India or Brazil?

India's GDP was $3.91 trillion in 2024, compared to Brazil's $2.18 trillion, making India's economy 1.79 times larger in nominal terms (World Bank). In purchasing power parity terms, India's GDP of $16.20 trillion was 3.42 times Brazil's $4.74 trillion.

Is India richer than Brazil?

No. Brazil's GDP per capita of $10,281 in 2024 was 3.8 times India's $2,695 in nominal terms. Even after adjusting for purchasing power, Brazil's per-capita PPP GDP of $22,321 was double India's $11,168 (World Bank). India has a larger aggregate economy, but Brazil is a wealthier society on a per-person basis.

How has the India-Brazil GDP gap changed over time?

In 1960, India's GDP ($37.0B) was larger than Brazil's ($17.0B). By 1990, Brazil ($423.0B) had moved ahead of India ($321.0B). Brazil maintained its lead through 2010 ($2.21T vs. $1.68T). By 2020, India ($2.67T) had decisively surpassed Brazil ($1.48T), and the gap widened to 1.79x by 2024 with India at $3.91T and Brazil at $2.18T (World Bank).

What are the main differences in sector composition between the two economies?

Agriculture accounts for 16.29% of India's GDP versus 5.75% for Brazil, though Brazil's agricultural exports are far larger. Industry contributes 24.63% in India and 20.94% in Brazil. Services are larger in Brazil at 59.17% of GDP compared to India's 49.87% (World Bank, 2024).

Which country is growing faster?

India's GDP grew by 6.49% in 2024, while Brazil's grew by 3.41% (World Bank). This growth differential of approximately 3 percentage points has been sustained for much of the past two decades, driving the aggregate divergence between the two economies.

How do inflation rates compare between India and Brazil?

In 2024, India recorded inflation of 4.79% and Brazil recorded 4.37% (World Bank). Both central banks maintained restrictive monetary policies through 2023-2024 to bring inflation toward their respective targets.

What is the population difference between India and Brazil?

India's population in 2024 was 1.45 billion, approximately 6.8 times Brazil's 212.0 million (World Bank). India is the world's most populous country, while Brazil ranks seventh.

How do unemployment rates compare?

India's unemployment rate was 4.22% in 2025, compared to Brazil's 5.97% (World Bank). Both figures should be interpreted with caution due to differences in how informal employment is measured in national labor force surveys.

What is the life expectancy in India and Brazil?

India's life expectancy at birth reached 72.0 years in 2023, while Brazil's stood at 75.9 years (World Bank). The gap has narrowed from approximately 8 years in 2000 to about 3.9 years in 2023.

Who are India's and Brazil's main trading partners, and how much do they trade with each other?

According to UN Comtrade data, bilateral merchandise trade between India and Brazil has ranged between $10-15 billion annually in recent years, making each country a relatively minor trading partner for the other. Brazil's exports to India are dominated by crude petroleum, soybean oil, and sugar, while India exports diesel, pharmaceuticals, and chemicals to Brazil. Neither country ranks among the other's top ten trading partners.