India's Exports To BRICS Could More Than Double To USD 200 Bn By 2030: ASSOCHAM

(MENAFN- KNN India) New Delhi, Sep 12 (KNN) India's trade with BRICS countries has more than doubled over the past five years, rising from USD 203 billion in 2020-21 to USD 417 billion in 2025-26, according to a report by industry body ASSOCHAM.

Titled“The Rise of BRICS Nations: An Opportunity to Scale Indian Exports to USD 200 Bn to BRICS by 2030”, the report said India's merchandise exports to BRICS partners stood at USD 96 billion in 2025-26.

It estimated that exports could more than double to USD 200 billion by 2030 through deeper South-South cooperation and diversification of export markets, reported ANI.

Opportunities Across Key Sectors
ASSOCHAM said stronger commercial ties within BRICS could help Indian businesses expand production networks, input sourcing and value chains while strengthening access to alternative settlement mechanisms.

Domestic manufacturers could benefit from opportunities across engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles, electronics and minerals.

Other potential areas include gems and jewellery, agricultural and marine products, renewable energy, healthcare and digital services.

ASSOCHAM President Nirmal K. Minda said recent initiatives to strengthen trade and cross-border investment under the BRICS framework could act as a catalyst for several high-growth sectors.

He added that India, as a founding member of BRICS, has steadily expanded trade, investment and economic engagement with member countries while maintaining a balanced approach.

Strategic Access To Resources, Technology
The report said deeper economic integration within the bloc could strengthen India's access to critical minerals, energy supplies, advanced technologies and investment capital, while creating new opportunities for domestic manufacturing.

India's economy grew at an average annual rate of more than 7 per cent between 2021 and 2026, while real GDP growth stood at 7.8 per cent in the first quarter of the current fiscal.

Against a shifting global economic and geopolitical landscape, ASSOCHAM said India's growing engagement with BRICS could help diversify export destinations and strengthen the country's role in shaping responses to global economic challenges.

(KNN Bureau)

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