India needs stronger export push as energy imports drive trade deficits with BRICS nations: BRICS CCI Chairman

Source: ANI (Asian News International) | Original Published At: 2026-09-10 08:38:25 UTC

Key Points

• BRICS CCI Chairman Sameep Shastri said India is in a trade deficit with most BRICS nations primarily because of high energy imports.
• He said India needs to strengthen exports, deepen complementarities among BRICS economies, and expand technology sharing.
• Shastri supported greater use of local currencies and digital transactions in trade to reduce conversion and transaction costs.
• He cited India's Unified Payments Interface as an example of digital payment infrastructure that could support trade.
• He said geographical and geopolitical factors create logistical challenges for intra-BRICS trade, with India, China and Russia exploring new routes including the Arctic route.
• He expressed hope for a Russia trade deal as one of the first among BRICS nations, while India is negotiating a free trade agreement with the Eurasian Economic Union.
• During India's BRICS chairship, member countries have discussed expanding trade and building more resilient and diversified supply chains.