India has 1,782 identified export opportunity products across BRICS markets but accounts for just 8.4 per cent of the export share, highlighting significant untapped potential for Indian businesses to expand their presence within the grouping, according to a joint study by India Exim Bank and FICCI.
The study noted that India has the second-highest number of identified export opportunity products among BRICS members, after China. However, its relatively low export share points to a considerable gap between India’s export competitiveness and its actual market presence across the bloc.
“India, on the other hand, presents a contrasting picture, where, despite having the second-highest number of identified products (1,782), it holds the lowest export share (8.4 per cent), suggesting considerable untapped potential relative to its competitiveness,” the report said.
Pharmaceuticals, petroleum products, automobiles and components, and engineering goods were identified as India’s key export strengths in the Established-High-Potential category.
The report highlighted substantial opportunities to expand intra-BRICS trade across manufacturing, technology, energy and industrial products. The 11-member grouping comprises Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.
Collectively, BRICS economies generated a GDP of USD 31.6 trillion in 2024, accounting for 28.5 per cent of global economic output. Between 2015 and 2024, the grouping recorded a compound annual growth rate of 5.4 per cent. Its exports to global markets stood at USD 7.2 trillion in 2024, while imports totalled an estimated USD 6.3 trillion.
Despite this significant economic presence, merchandise trade among BRICS members accounted for only 22.8 per cent of the bloc’s total exports, indicating considerable scope for deeper trade integration.
China dominated the export opportunity assessment, with 5,325 identified products and an export share of 48 per cent. Its opportunities in the Established-High-Potential and Emerging-High-Potential categories were valued at USD 333 billion.
China’s identified opportunities were concentrated in electronics, telecommunications equipment, electric vehicles, lithium-ion batteries, solar modules and other renewable energy equipment.
The study also identified emerging export opportunities for India and other BRICS economies in aerospace equipment, automotive components, specialised machinery, electrical equipment, medical products, chemicals and advanced engineering goods.
Calling for stronger economic cooperation among member countries, the report emphasised the need to deepen collaboration in manufacturing, technology development, research and innovation to build resilient cross-border supply chains.
It identified eight priority sectors offering significant potential for cooperation: critical minerals and energy storage; renewable energy equipment; green hydrogen; semiconductors and electronics; pharmaceuticals and medical devices; automobiles and electric vehicles; aerospace and advanced mobility; and smart manufacturing.
The findings underscore the opportunity for India to translate its strong product-level export competitiveness into a larger market share across BRICS economies through targeted trade promotion, industrial collaboration and stronger supply-chain integration.