India's BRICS Trade Deficit Likely to Remain Key Challenge as Imports Outpace Exports: Report

India's BRICS trade deficit likely to remain key challenge as imports outpace exports: Report

India's trade relationship with BRICS nations is set to experience a notable increase in its trade deficit, driven largely by rapidly rising imports. While exports to these countries are gradually improving, the pace is not enough to offset the imports, particularly from major players like China and Russia. India aims to enhance its export capacity within the BRICS framework as a strategic priority.

India Should Address Widening Trade Deficit With BRICS Countries

China, the UAE and Russia supplied almost 84% of India’s BRICS imports. Imports from China reached $131.6 billion, while those from Russia increased more than tenfold to $55.4 billion due to crude oil imports

India’s BRICS Trade Deficit Likely to Remain Key Challenge as Imports Outpace Exports: Report

Get latest articles and stories on Business at LatestLY. India’s trade relationship with the BRICS bloc is likely to remain tilted towards imports, with the country’s goods trade deficit with the other 10 members widening sharply in the first half of 2026 even as overall trade gained momentum, according to a report by Rubix Data Sciences. Business News | India’s BRICS Trade Deficit Likely to Remain Key Challenge as Imports Outpace Exports: Repor…

India's Trade Deficit with BRICS Nations Surges to $226.1 Billion

India's total goods trade with BRICS nations more than doubled from FY21 to FY26, reaching USD 417.5 billion, but a significant surge in imports, particularly from China and Russia, has caused India's trade deficit with the bloc to more than triple, reaching USD 226.1 billion.