New Delhi [India], September 11 (ANI): India’s trade with BRICS has grown significantly during last five years, increasing from USD 203 billion in 2020-21 to USD 417 billion in 2025-26, according to a research report released by the industry body ASSOCHAM.
The report is titled “The Rise of BRICS Nations: An opportunity to scale Indian Exports to USD 200 Bn to BRICS by 2030”.
India shipped merchandise valued at USD 96 billion to partner countries within the bloc during 2025-26. The chamber assessed that outbound shipments could reach USD 200 billion by 2030 through enhanced south-south cooperation, providing domestic suppliers an avenue to diversify export destinations beyond traditional buyers.
Trade dynamics remain shaped by the economic performance of member nations, regional trade policies, and shifts in the international economic landscape. Beyond direct sales, the engagement offers India a mechanism to reinforce production networks, input sourcing, value chains, and settlement mechanisms, while absorbing established systems from partner markets.
ASSOCHAM President Nirmal K. Minda said, "The growing global significance of developing and emerging member countries of the bloc reflects the vibrant trajectory of growth which can be attained with the true sense of 'Building for Resilience, Innovation, Cooperation, and Sustainability'."
The president pointed out that institutional steps taken under the multilateral grouping will spur activity in critical areas.
"The recent initiatives for enhancing trade and cross-border investment under the BRICS framework is set to act as a significant catalyst across several high-growth sectors," said Minda.
Domestic manufacturers hold potential gains across engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles, electronics, and mineral items. Opportunities also extend to gems and jewellery, agricultural and marine goods, renewable power, healthcare, and digital services.
Minda highlighted the country's steady engagement within the multilateral alliance.
"India, as a founding member of BRICS, with its strategic policy initiatives has demonstrated strength over the years, enhancing trade, investment, dialogue, and relations with the member countries considering a balanced approach," said Minda.
India recorded an average annual gross domestic product expansion exceeding 7 per cent between 2021 and 2026, alongside a 7.8 per cent print in the opening quarter of the current fiscal period. As the fastest-expanding major economy, the nation stands positioned to widen the bloc's reach and coordinate responses to global economic and geopolitical developments.
The partnership framework continues to develop amid worldwide geopolitical shifts. Deeper commercial ties within the grouping are projected to secure India's access to critical minerals, energy supplies, advanced technology, and investment capital, while generating further manufacturing avenues. (ANI)
India-BRICS trade increased more than 100% during last five years to USD 417 billion in 2025-26: ASSOCHAM
