India’s trade with BRICS nations has more than doubled over the past five years, climbing from $203 billion in 2020-21 to $417 billion in 2025-26, according to a new report by ASSOCHAM Global Research and Strategy Centre.
The report, titled ‘The Rise of BRICS Nations: An Opportunity to Scale Indian Exports to $200 Bn to BRICS by 2030’, pegs India’s merchandise exports to the bloc at $96 billion for 2025-26. It projects that figure could climb to $200 billion by 2030, provided India deepens South-South cooperation and pushes to diversify its export base beyond traditional markets.
ASSOCHAM pointed to a broad set of sectors it sees as well placed to benefit from closer BRICS engagement, ranging from engineering goods, pharmaceuticals and chemicals to textiles, automobiles, electronics, minerals and metals, along with gems and jewellery, agricultural and marine produce, renewable energy, healthcare and digital services.
ASSOCHAM President Nirmal K Minda said the rising global weight of developing and emerging economies within BRICS underscored the bloc’s potential to deliver sustained growth built on resilience, innovation, cooperation and sustainability. He added that recent moves to boost trade and cross-border investment under the BRICS umbrella could act as a catalyst across several fast-growing sectors, and noted that India, as a founding member of the grouping, had steadily strengthened its trade, investment and diplomatic ties with fellow member nations over the years.
The report also flagged that deeper economic ties within the bloc could give India better access to critical minerals, energy resources, technology and capital, while helping domestic manufacturers build more resilient supply chains. At the same time, separate trade data cited by other outlets shows India’s imports from BRICS countries have grown far faster than its exports over the same period, pushing the country’s trade deficit with the bloc up sharply, a trend that underlines why ASSOCHAM’s push for higher exports carries added significance.
The findings come just ahead of the BRICS Summit being hosted in India from September 12 to 13, themed around building resilience, innovation, cooperation and sustainability.
