Archive · 12 Sep 2026
India’s BRICS 2026 Opportunity as a China Plus One
Companies used to depend heavily on factories and suppliers in China.
Now, many want to keep working with China while also adding another country, which is called China plus one.
India hopes to become that extra country for businesses and countries in the Global South.
Its smartphone, pharmaceutical, automobile and electronics industries have grown.
Government incentives helped increase mobile-phone production and exports.
India also sells many goods to countries such as Brazil and South Africa.
However, Indian factories still rely on China for many parts, chips and machines.
India is trying to make more of these components itself.
BRICS cooperation could help India build stronger trade and supply chains, but competing countries are also seeking the same investment.
The BRICS 2026 summit in New Delhi is emphasizing resilient and diversified supply chains.
India’s smartphone production rose from about $30 billion in FY2020 to $71 billion in FY2026.
India’s exports to BRICS countries could increase from about $96 billion to $200 billion by 2030.
India still imported nearly $132 billion in goods from China during FY2025-26, including critical machinery and components.
Analysts describe India as a credible emerging China-plus-one option, but not yet a fully independent alternative.
- Who
- India, BRICS members, multinational manufacturers and suppliers, including Apple, Foxconn and Tata Electronics.
- What
- India is seeking to become a major China-plus-one manufacturing and sourcing base for the Global South.
- When
- The BRICS 2026 summit began on Saturday, with the article published September 12, 2026; related trade and production figures cover 2025-26 and 2026.
- Where
- The summit is in New Delhi, while the proposed opportunity involves trade and supply chains across BRICS economies and other Global South markets.
- Why
- Businesses are diversifying production because of tariffs, pandemic disruptions, geopolitical tensions and trade restrictions, while India seeks stronger exports and reduced import dependence.
Opportunity Case
Caution Case
India’s manufacturing potential
Opportunity Case
India has a large domestic market, a growing electronics industry, established pharmaceutical and automotive sectors, rising smartphone exports and expanding markets in the Global South.
Caution Case
India competes with Vietnam, Thailand, Malaysia, Indonesia and Mexico, some of which have more mature supplier clusters and stronger regional trade integration.
Supply-chain independence
Opportunity Case
BRICS’s 2026-30 Global Value Chains Action Plan, proposed technical cooperation and potential supply-chain platform could help India and other members diversify production and trade.
Caution Case
India still depends heavily on China for components, chips and machinery; import dependence among large listed Indian companies has remained broadly unchanged since FY2019.
China-plus-one strategy
Opportunity Case
India can benefit as an additional supplier without replacing China, particularly in smartphones, pharmaceuticals, automobiles, engineering goods and electronics.
Caution Case
Industry leaders argue that assembly alone is insufficient; India must develop end-to-end cost advantages and deeper domestic supply chains to become a full-fledged alternative.
- Intra-BRICS trade
- Rose from $84 billion in 2003 to $1.17 trillion in 2024.
- India’s smartphone production
- Increased from about $30 billion in FY2020 to $71 billion in FY2026.
- India’s smartphone exports
- Rose from roughly $3 billion in FY2020 to $29.4 billion in FY2026.
- India-China goods trade
- India imported nearly $132 billion in goods from China in FY2025-26.
- Projected BRICS exports
- An ASSOCHAM estimate says India’s exports to BRICS countries could rise from about $96 billion in FY2025-26 to $200 billion by 2030.
- Component-manufacturing projects
- India approved electronic-component projects worth Rs 418.63 billion, or about $4.64 billion, in January.