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.
The US Treasury is projected to borrow over $2 trillion in fiscal year 2026, with deficits staying above 6% of GDP. That implies $166–$181 billion of new debt each month, while interest payments alone hit $530 billion in just six months. With national debt around $38.91 trillion, reaching a 3% deficit target would require about $10 trillion in cuts over a decade.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Union Budget 2026-27 aims for fiscal prudence while preserving growth, with deficit consolidation continuing and capital expenditure sustained. Although markets reacted cautiously to the STT increase, the government also signaled broader market reforms, including buyback easing, PIS liberalisation, bond-market development, and targeted support for sunrise sectors to strengthen long-term competitiveness.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
