The BRICS trade boom has a $226 billion hole for India
The dynamics of India's trade with BRICS nations have transformed, with imports outpacing exports and causing the trade deficit to reach $226.1 billion in FY2026. BRICS countries now represent over 41% of India's merchandise imports, although their export share has slightly diminished. With China, UAE, and Russia leading the surge, India must prioritize export growth to these countries to reverse…
India’s trade with the BRICS group has more than doubled in the last five years, but its trade deficit with them has more than tripled, according to a report by the Global Trade Research Initiative (GTRI). In the fiscal year 2026, India’s imports from BRICS totaled $321.8 billion, compared to $321.8 billion, a $226.1 billion deficit, significantly higher than the $74.5 billion deficit in fiscal year 2021.
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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