India’s BRICS trade deficit remains key challenge

New Delhi: India's trade dynamics within the BRICS group suggest a persistent reliance on imports, with the goods trade deficit widening significantly in the first half of 2026, according to a Rubix Data Sciences report. The imbalance widened by 17.2% year-on-year to approximately USD 130 billion, while overall trade expanded. India only recorded trade surpluses with Egypt and Ethiopia, while maintaining deficits with the other eight BRICS members.

Imports from the bloc surged by 13.5% to about USD 178 billion, while exports grew by 4.6% to USD 48 billion. China and Russia were the top import sources, constituting 41% and 20% of India's BRICS imports, respectively. Among BRICS trading partners, China and the UAE were the largest, accounting for 37% and 20% of India's total BRICS trade.

Globally, BRICS trade rose 15.4% to USD 5.8 trillion, with exports up 12.5% to USD 3.2 trillion and imports up 19.1% to USD 2.6 trillion. The disparity between imports and exports is expected to persist as India hosts the 18th BRICS Summit, with the Chairship's focus on resilience, innovation, cooperation, and sustainability.