Archive · 12 Sep 2026
India’s BRICS Trade Grows as Imports Outpace Exports Nearly Fourfold
India trades with a group of countries called BRICS.
In the first half of 2026, India bought far more from these countries than it sold to them.
India bought $178 billion worth of goods but sold $48 billion.
This created a trade gap of about $130 billion.
China and Russia were the biggest sources of India’s purchases.
India sold more to Egypt and Ethiopia than it bought from them.
Trade among BRICS countries grew overall, but China became an even larger part of that trade.
The report says India’s challenge is to sell more goods while continuing to benefit from BRICS trade.
India exported $48 billion to the other BRICS members but imported $178 billion in the first half of 2026.
The resulting $130 billion trade deficit reflected imports growing 13.5%, compared with 4.6% export growth.
China and Russia accounted for 41% and 20% of India’s BRICS imports, respectively.
India ran trade deficits with eight of the other 10 BRICS countries, exporting more only to Egypt and Ethiopia.
BRICS merchandise trade recovered in 2026, although China’s share of the bloc’s exports rose to 66%.
- Who
- India and the other 10 BRICS members, particularly China and Russia, are involved.
- What
- India’s BRICS trade expanded, but imports were nearly 3.7 times its exports in the first half of 2026.
- When
- The reported figures cover January through June 2026; India is hosting the 18th BRICS Summit on September 12 and 13.
- Where
- The trade involves India and the BRICS countries; the summit is being held in New Delhi.
- Why
- India’s imports of goods from BRICS countries, especially China and Russia, grew faster than its exports to the bloc.
Export Opportunity
Import Dependence
Meaning of growing BRICS trade
Export Opportunity
The expanding bloc and recovering merchandise trade could give Indian exporters access to larger markets.
Import Dependence
India’s trade growth is being driven mainly by imports, leaving it increasingly dependent on BRICS suppliers.
India-China trade
Export Opportunity
India’s exports to China grew 33.3% year on year to $12 billion in the first half of 2026, showing some export momentum.
Import Dependence
China’s exports to India reached $79 billion, leaving a large bilateral imbalance; the article cites the deficit as about $62.9 billion in one section and $67 billion in another.
Role of China and Russia
Export Opportunity
BRICS provides India access to important goods and commodities, including energy, machinery and other inputs.
Import Dependence
China and Russia together supplied 61% of India’s BRICS imports, while India ran deficits with both countries.
- India’s exports to BRICS
- $48 billion in the first half of 2026, up 4.6% year on year.
- India’s imports from BRICS
- $178 billion in the first half of 2026, up 13.5% year on year.
- India’s trade deficit
- About $130 billion with the other BRICS members in the first half of 2026.
- Largest bilateral deficits
- About $62.9 billion with China and $33.6 billion with Russia, according to the report.
- Total India-BRICS trade
- $226 billion in the first half of 2026, up 11.5% from a year earlier.
- BRICS membership
- The bloc has 11 members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.
- BRICS global trade share
- The bloc accounted for about 24% of global merchandise exports and 19% of global merchandise imports in 2025.