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

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

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.

ANI

New Delhi: 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.



The trend could remain a key consideration as India hosts the 18th BRICS Summit in New Delhi on September 12-13, with the country's BRICS Chairship focused on "Building for Resilience, Innovation, Cooperation and Sustainability."



India's goods trade deficit with the other BRICS countries rose 17.2 per cent year-on-year to about USD 130 billion in H1 CY2026, from USD 111 billion in the corresponding period a year earlier. India recorded trade surpluses with only Egypt and Ethiopia, while running deficits with the remaining eight members.

The widening gap reflects faster growth in imports. India's imports from the other 10 BRICS countries reached approximately USD 178 billion in H1 CY2026, registering 13.5 per cent growth from H1 CY2025. In comparison, exports stood at USD 48 billion, up 4.6 per cent. China and Russia were the largest sources of imports, accounting for 41 per cent and 20 per cent, respectively.



India's total goods trade with the other BRICS members nevertheless increased 11.5 per cent year-on-year to around USD 226 billion during the period. China and the UAE were the largest trading partners within the bloc, accounting for 37 per cent and 20 per cent of India's total BRICS trade, respectively.




The broader BRICS trading environment also strengthened in H1 CY2026. Total merchandise trade of the 11-member bloc rose 15.4 per cent year-on-year to approximately USD 5.8 trillion, while exports grew 12.5 per cent to USD 3.2 trillion and imports increased 19.1 per cent to USD 2.6 trillion. The bloc's trade surplus narrowed to USD 597 billion from USD 660 billion as imports grew faster than exports.

The report noted divergent regional trends amid the ongoing West Asia conflict. While Iran's trade declined 22.8 per cent and the UAE's contracted 10 per cent in H1 CY2026, India's total merchandise trade grew about 12 per cent.



With BRICS accounting for about 24 per cent of global merchandise exports and 19 per cent of imports in 2025, the bloc remains significant for global trade. For India, however, the faster pace of imports suggests that expanding exports within BRICS will remain an important priority going forward.

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