Current Affairs - International - Discussion

India and Brazil have agreed to expand their Preferential Trade Agreement (PTA) under the MERCOSUR framework, aiming to cover a broader range of sectors and products. The India–MERCOSUR Framework Agreement was originally signed in 2003, followed by the PTA in 2004, which became effective in 2009. MERCOSUR, established in 1991, includes Brazil, Argentina, Uruguay, and Paraguay as full members. This expansion signifies a strengthening of economic ties between India and Brazil, promoting greater trade cooperation, market access, and bilateral economic engagement, while leveraging the regional integration of South America under MERCOSUR.