India’s Trade Deficit With BRICS Countries Widens to $226 Billion in FY2026

Source: नवभारत टाइम्स | Original Published At: 2026-09-10 14:05:29 UTC

Key Points

• India's total goods trade with the 11-member BRICS group increased from $203.1 billion in FY2021 to $417.5 billion in FY2026.
• India's trade deficit with BRICS countries widened to $226.1 billion, about ₹21,592 billion, in FY2026 from $74.5 billion in FY2021.
• BRICS accounted for 41.5% of India's total goods imports in FY2026, up from 35.2% in FY2021, while its share of India's exports slipped to 21.7%.
• China, the United Arab Emirates, and Russia together accounted for about 84% of India's BRICS imports in FY2026.
• Imports from Russia rose sharply from about $5.5 billion in FY2021 to $55.4 billion in FY2026, largely driven by higher energy purchases.
• The United Arab Emirates remained India's largest BRICS export market in FY2026, with exports rising 124% to $37.4 billion.
• The Global Trade Research Initiative said expanding trade with BRICS alone may not be sufficient for India and recommended better market access, fewer non-tariff barriers, higher-value exports, and reduced dependence on selected BRICS imports ahead of the Delhi BRICS summit.