India’s trade with BRICS nations 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 new report by the ASSOCHAM Global Research and Strategy Centre.
The report, titled “The Rise of BRICS Nations: An Opportunity to Scale Indian Exports to USD 200 Billion to BRICS by 2030,” estimates that India could increase its exports to BRICS economies from USD 96 billion in 2025-26 to USD 200 billion by 2030.
ASSOCHAM said deeper South-South cooperation and diversification beyond traditional export markets could provide a significant boost to India’s trade with BRICS+ economies.
For the automotive industry, the expanding trade opportunity could benefit automobiles, engineering goods, electronics, minerals and metals, alongside pharmaceuticals, chemicals, textiles, agriculture, renewable energy, healthcare and digital services.
The report said India’s focus should extend beyond increasing exports to strengthening production and sourcing capabilities, value-chain integration, technology partnerships and trade settlement systems with BRICS economies.
India’s strong economic growth could further support its role within the bloc. The country recorded average GDP growth of more than 7% over the last five financial years (2021-26), while the economy grew 7.8% in the first quarter of the current fiscal year.
Nirmal K. Minda, President, ASSOCHAM, said the growing global significance of BRICS economies presents opportunities for stronger trade and investment cooperation.
He highlighted the potential of recent initiatives aimed at facilitating trade and cross-border investment to act as a catalyst for high-growth sectors, while reinforcing the bloc’s focus on resilience, innovation, cooperation and sustainability.
As a founding member of BRICS, India has strengthened trade, investment and economic relations with member countries through a balanced policy approach, Minda said.
Amid shifting global supply chains and geopolitical realignments, ASSOCHAM believes stronger BRICS cooperation could also help India secure greater access to critical minerals, energy, technology and capital, while creating new opportunities for domestic manufacturing and value-chain integration.
With BRICS+ economies gaining greater influence in global trade, the bloc could become an increasingly important market for Indian manufacturers and exporters, particularly as India targets USD 200 billion in exports to BRICS by 2030.
