India seeks to deepen trade ties within BRICS, targeting over $200 billion in exports by 2030, according to industry body ASSOCHAM, amid a doubling of trade with the bloc in five years.
India could lift exports to BRICS nations to $200 billion by 2030, more than double the $96 billion recorded in the last fiscal year, according to a report by industry body ASSOCHAM. The projection comes as New Delhi looks to deepen commercial ties with a bloc that has become increasingly important to its trade profile.
ASSOCHAM said India’s overall trade with BRICS partners rose from $203 billion in 2020-21 to $417 billion in 2025-26, a jump of more than 100% in five years. The report, titled “The Rise of BRICS Nations: An Opportunity to Scale Indian Exports to USD 200 Bn to BRICS by 2030”, was reported by ANI and highlighted the scale of India’s existing exposure to the grouping.
The chamber said the biggest gains could come in engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles, electronics and minerals. It also flagged scope in gems and jewellery, agricultural and marine products, renewable energy, healthcare and digital services, arguing that stronger links inside BRICS could help Indian firms widen supply chains, secure inputs and gain access to alternative payment arrangements.
Nirmal K. Minda, president of ASSOCHAM, said recent steps to expand trade and cross-border investment within the BRICS framework could support several fast-growing sectors. The report also said deeper integration could improve India’s access to critical minerals, energy, advanced technology and capital, even as the country seeks to diversify export markets in a more volatile global environment. Business Standard has separately reported that the trade relationship remains heavily tilted towards imports, underscoring the challenge India faces in turning larger BRICS commerce into a stronger export story.
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