India, Brazil Agree To Expand Trade Pact With MERCOSUR

17 Oct 2025 CW Team

During a meeting in New Delhi on 16 October 2025, Geraldo Alckmin, Vice President of Brazil and Minister of Development, Industry, Trade and Services, and Piyush Goyal, India’s Minister of Commerce and Industry, reaffirmed the shared interest of India and MERCOSUR Member States in expanding their existing Preferential Trade Agreement (PTA) to strengthen bilateral trade and investment ties.

Both sides recalled the Framework Agreement signed between India and MERCOSUR on 17 June 2003, aimed at fostering closer economic cooperation in line with World Trade Organization (WTO) rules. They agreed that the proposed expansion should be substantial and comprehensive, covering both tariff and non-tariff issues related to trade and economic partnership.

The leaders outlined a roadmap to guide the expansion process, agreeing on the following key points:

The revised agreement should ensure that a significant share of bilateral trade benefits from tariff preferences.

The initiative must include active participation from the private sector and key stakeholders to support and sustain the negotiation process.

A technical dialogue between the Parties will be established, including the early convening of the Joint Administration Committee created under Article 23 of the PTA, to define the scope of the expansion.

The Parties will strive to conclude negotiations within one year from their formal launch.

The Brazilian side further expressed its commitment to working closely with other MERCOSUR partners to ensure that the process leads to a substantial, swift, and mutually beneficial outcome for all involved.

The meeting underscored both countries’ determination to enhance economic cooperation, diversify trade, and support the broader goal of South–South economic integration through a modernised and ambitious trade framework.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..