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India BRICS trade hits $416 billion, but deficit nearly doubles—summit pressure mounts for smarter export push
Economy
Published on 15 May 2026
Imports from BRICS are surging far faster than exports
India’s trade with the expanded BRICS bloc climbed to about $416 billion in 2025, but the goods trade deficit widened sharply, nearly doubling from $117 billion in 2021 to $224 billion in 2025. Imports from BRICS rose at roughly 12% CAGR while exports grew only about 3%, with Russia a major source boosted by crude oil. Ahead of the BRICS Foreign Ministers’ Meeting, India faces a policy test: reduce import dependence and expand outbound shipments.
- India’s BRICS bilateral trade reached about $416 billion in CY2025
- Goods trade deficit with BRICS nearly doubled from $117B to $224B since CY2021
- Cumulative BRICS imports climbed to $320 billion, gaining share of total imports 36% to 43%
- Russia emerged as a key import driver with 61% CAGR, largely via crude oil
- India’s exports to BRICS rose to $96 billion but at only 3% CAGR
- CY2025 deficits included China over $100 billion and Russia at about $55 billion
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times