India is looking to deepen its export presence across BRICS economies as trade with the grouping expands, with greater market access for Indian businesses expected to be a key topic at the BRICS Summit in New Delhi on September 12-13.
According to the Global Trade Research Initiative (GTRI), India’s total goods trade with BRICS reached US$417.5 billion in FY2025-26, more than doubling from US$203 billion in FY2020-21. India’s trade deficit with the grouping stood at US$226.1 billion in FY2025-26, compared with US$74.5 billion in FY2020-21.
The data points to a significant opportunity for India to increase its exports to BRICS markets as the grouping becomes a larger part of its trade basket. China, Russia and the UAE are among the major contributors to India’s trade imbalance within the bloc, according to GTRI.
Greater access to BRICS markets could help Indian companies expand shipments across sectors including engineering goods, pharmaceuticals, chemicals, textiles, automobiles and auto components, electronics, food and agricultural products, renewable energy and healthcare services.
Federation of Indian Export Organisations President S. S. Ralhan said India can play a larger role in emerging value chains across BRICS economies. He also identified opportunities for India to gain access to critical minerals and technologies through greater economic engagement with member countries.
Export opportunities vary across individual BRICS markets. GTRI has called for India to pursue greater market access in countries including China, Russia and Indonesia, while noting that India’s exports to Indonesia and Iran have declined over the past five years.
India’s exports to Russia have increased by 69 per cent over the same period, according to the data cited by GTRI. However, imports from Russia have grown much faster.
The wider BRICS economic agenda is also evolving beyond conventional merchandise trade. India is pushing for greater interoperability between central bank digital currencies of member countries to facilitate cross-border payments, although implementation faces technical and geopolitical challenges.
The 11-member BRICS grouping comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia and the UAE. India is hosting the 18th BRICS Summit in New Delhi on September 12-13, 2026.
For Indian businesses, the expanding BRICS market offers an opportunity to increase export participation in a grouping with already substantial trade volumes. The summit gives India a platform to pursue wider market access, strengthen supply-chain linkages, and expand the role of Indian goods and services in BRICS markets.
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