New Delhi: India’s trade with BRICS countries has more than doubled over the past five years, rising from $203 billion in 2020-21 to $417 billion in 2025-26, a new report said on Friday.
According to ASSOCHAM Global Research and Strategy Centre report titled “The Rise of BRICS Nations: An opportunity to scale Indian Exports to $200 Bn to BRICS by 2030”, India’s exports to BRICS partner countries stood at $96 billion in 2025-26 and projected that the country could raise its exports to the bloc to $200 billion by 2030 by strengthening South-South cooperation and diversifying beyond traditional export markets.
According to ASSOCHAM, the expanding BRICS+ economic landscape offers significant opportunities for Indian companies across engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles, electronics, minerals and metal products, gems and jewellery, agricultural and marine products, renewable energy, healthcare and digital services.
The report noted that the trade dynamics within BRICS+ will continue to be shaped by the economic performance of member economies, trade policies and the broader global economic environment. For India, the opportunity extends beyond increasing merchandise exports to strengthening production and sourcing networks, value chains, technology cooperation and settlement systems, while also learning from ecosystems and best practices developed across member economies.
India has maintained an average GDP growth of more than 7 per cent over the last five financial years from 2021-22 to 2025-26. The economy also recorded 7.8 per cent growth in the first quarter of the current fiscal year, reinforcing its position as one of the fastest-growing major economies globally.
ASSOCHAM President Nirmal K. Minda said the growing global significance of developing and emerging economies within BRICS reflects the potential for sustained growth through resilience, innovation, cooperation and sustainability. He said recent initiatives aimed at enhancing trade and cross-border investment under the BRICS framework could act as a catalyst for several high-growth sectors.
The report said stronger BRICS trade cooperation could become particularly important amid ongoing geopolitical realignments. Deeper economic engagement could improve India’s access to critical minerals, energy, technology and capital, while also creating new opportunities for manufacturing and strengthening resilient supply chains.
(IANS)
