India’s goods trade with BRICS countries has more than doubled over the past five years, but the rapid rise in imports has sharply widened the country’s trade deficit with the bloc.
According to an analysis by the Global Trade Research Initiative (GTRI), India’s total goods trade with BRICS nations reached $417.5 billion in FY2026, compared with significantly lower levels in FY2021. However, the trade deficit surged to $226.1 billion, up from $74.5 billion in FY2021.
The widening imbalance has been driven largely by rising imports from China, Russia and the UAE, which have grown considerably faster than India’s exports to the BRICS grouping. China remains at the centre of India’s BRICS trade flows, while increased purchases from Russia have also contributed significantly to the import surge.
The figures highlight a growing challenge for India as BRICS expands its role in global trade. While stronger trade links with the grouping offer opportunities for Indian exporters, the increasing dependence on imports is limiting the benefits of overall trade expansion.
GTRI has highlighted the need for India to strengthen its export competitiveness and expand market access within BRICS economies to address the widening gap.
The issue comes as India hosts the BRICS Leaders’ Summit in New Delhi on September 12–13, with trade, payments and economic cooperation expected to feature prominently in discussions.
For India, the challenge will be to convert the rapid expansion of BRICS trade into stronger export growth rather than allowing imports to continue driving the relationship.