India and Brazil strengthened bilateral economic and pharmaceutical cooperation on Saturday with the signing of multiple memoranda of understanding (MoUs) during the India-Brazil Business Forum.
A tripartite MoU was signed between BahiaFarma, Biocon Biologics Ltd, and Bionovis for the development of Pertuzumab, a biologic therapy indicated for HER-2 positive metastatic breast cancer. The agreement was formalised in the presence of Brazilian President Luiz Inácio Lula da Silva and Commerce and Industry Minister Piyush Goyal at the forum organised by Federation of Indian Chambers of Commerce and Industry (FICCI).
In the mining and infrastructure sector, another MoU was signed between NMDC Ltd, Vale SA, and Adani Gangavaram Port Ltd to enhance cooperation in setting up a facility under a Special Economic Zone (SEZ) regime at the Port of Gangavaram. The proposed project, valued at around USD 500 million, will focus on blending and marketing iron ore fines. Under the arrangement, NMDC will supply low-grade ore, Vale will provide high-grade ore, while Adani Gangavaram Port Ltd will manage port infrastructure, blending operations, logistics, yard management, and regulatory clearances. The MoU is valid for 12 months and may be extended for another year.
In the pharmaceutical research space, Farmanguinhos/Fiocruz and Biocon Pharma Ltd signed an agreement to collaborate on research and development of strategic pharmaceutical ingredients and medicines for Brazil’s public health system, SUS. The partnership will prioritise rare diseases, oncology and immunosuppressants.
The collaboration includes co-development of active pharmaceutical ingredients and finished formulations, sharing of technical and regulatory expertise, capacity building, exchange of specialists, feasibility studies, and exploration of opportunities for production and supply of strategic medicines to public health systems.
Additionally, ApexBrasil and Federation of Indian Chambers of Commerce and Industry signed an agreement to strengthen cooperation in trade and promote foreign direct investment flows between India and Brazil.
The agreements reflect a broader push to deepen bilateral collaboration across pharmaceuticals, mining, infrastructure and trade, reinforcing economic ties between the two countries.
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