India's BRICS trade deficit likely to remain key challenge as imports outpace exports: Report
India's trade relationship with BRICS nations is set to experience a notable increase in its trade deficit, driven largely by rapidly rising imports. While exports to these countries are gradually improving, the pace is not enough to offset the imports, particularly from major players like China and Russia. India aims to enhance its export capacity within the BRICS framework as a strategic…
India's trade deficit with the BRICS nations is expected to persist as imports continue to outpace exports, according to a report by Rubix Data Sciences. In the first half of 2026, India's goods trade deficit with the 10 other BRICS members widened significantly, reaching about USD 130 billion compared to USD 111 billion in the same period last year.
The imbalance is primarily driven by a surge in imports, which surged 13.5 per cent year-on-year to around USD 178 billion, while exports only grew 4.6 per cent to USD 48 billion. China and Russia were the main sources of imports, accounting for 41 per cent and 20 per cent respectively. Despite the widening deficit, India's overall goods trade with BRICS countries increased by 11.5 per cent year-on-year to about USD 226 billion.
The broader BRICS bloc also experienced trade growth, with total merchandise trade rising 15.4 per cent to around USD 5.8 trillion. The report highlights that while India's trade relationship with BRICS is tilted towards imports, expanding exports within the bloc remains a priority, especially as India hosts the 18th BRICS Summit in New Delhi.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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