India-BRICS Trade: Key Trends and Numbers

Source: The Hindu Business Line | Original Published At: 2026-09-10 00:44:23 UTC

Key Points

• India's total goods trade with BRICS rose from $203.1 billion in FY21 to $417.5 billion in FY26.
• India's exports to BRICS increased 48.8% to $95.7 billion, while imports rose 131.8% to $321.8 billion.
• India's trade deficit with BRICS more than tripled from $74.5 billion to $226.1 billion.
• The UAE was India's largest export market within BRICS in FY26, while China remained India's largest BRICS supplier.
• Imports from Russia rose more than tenfold to $55.4 billion, mainly due to higher energy purchases.
• China, the UAE and Russia together accounted for almost 84% of India's imports from BRICS.
• Intra-BRICS goods exports totaled about $1.1 trillion, while intra-BRICS imports totaled about $1.4 trillion.
• GTRI founder Ajay Srivastava said India should seek better market access, address non-tariff barriers, and promote higher-value exports to reduce the trade imbalance.