India-BRICS trade increased more than 100% during last five years to USD 417 billion in 2025-26: ASSOCHAM
India's trade with BRICS nations has significantly increased over recent years. Outbound shipments to BRICS partners are projected to reach USD 200 billion by 2030. This expansion offers Indian suppliers new export destinations beyond traditional markets. Enhanced cooperation within BRICS will reinforce production networks and value chains. India's economic growth positions it to broaden the…
Trade between India and the BRICS nations has surged more than 100% over the past five years, reaching $417 billion in 2025-26, according to a report by the industry body ASSOCHAM. The study, titled "The Rise of BRICS Nations: An opportunity to scale Indian Exports to USD 200 Bn to BRICS by 2030," reveals that India exported merchandise valued at $96 billion to member countries within the bloc in 2025-26.
The ASSOCHAM report emphasizes the potential for India's outbound shipments to reach $200 billion by 2030 through enhanced south-south cooperation, thereby providing domestic suppliers with alternative export destinations beyond traditional markets. ASSOCHAM President Nirmal K. Minda underscores the significance of the growing global influence of developing and emerging member nations of the bloc, highlighting the trajectory of growth that can be achieved by fostering resilience, innovation, cooperation, and sustainability.
Minda points out that India's strategic policy initiatives within the multilateral grouping have demonstrated strength in enhancing trade, investment, dialogue, and relations with member countries. Opportunities for domestic manufacturers are expected to expand across various sectors, including engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles, electronics, mineral items, gems and jewelry, agricultural and marine goods, renewable power, healthcare, and digital services.
The partnership framework is poised to secure India's access to critical minerals, energy supplies, advanced technology, and investment capital, while generating additional manufacturing avenues. As India records an average annual GDP expansion exceeding 7% between 2021 and 2026 and a 7.8% print in the opening quarter of the current fiscal period, the nation is well-positioned to widen the bloc's reach and coordinate responses to global economic and geopolitical developments.
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.
