India’s BRICS Trade Deficit Hits $226 Billion: What Does India Really Want?
India’s BRICS trade deficit has surged to $226.1 billion—so what does India want from the BRICS Summit, and can better market access, exports and supply-chain integration fix the imbalance?~~~~~~~~~~~~~~~~~~
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India’s trade deficit with the BRICS bloc has surged to $226.1 billion in FY2025-26, raising major questions about whether India is gaining enough from its growing economic integration with BRICS.
As India hosts the BRICS Summit 2026 in New Delhi, the focus is shifting from simply increasing trade to making that trade more balanced. BRICS countries accounted for roughly 42% of India’s merchandise imports but only around 22% of its exports, highlighting a major asymmetry in India’s trade relationship with the bloc.
In this video, we explain India’s BRICS trade deficit, why imports have grown much faster than exports, and why China, Russia and the UAE are central to the problem. China alone accounted for about $112.2 billion of India’s FY2025-26 BRICS trade deficit, while Russia contributed around $50.9 billion.
But is the $226 billion figure necessarily a sign of failure?
India’s trade with Russia is heavily influenced by energy imports, particularly crude oil, while the China deficit reflects India's dependence on machinery, electronics, components, chemicals and other industrial inputs. This makes the China challenge fundamentally different from the Russia energy relationship.
The bigger question is therefore: What does India actually want from BRICS?
India is pushing for better market access, lower non-tariff barriers, faster customs procedures, regulatory cooperation, stronger exports, improved logistics and more efficient cross-border payment systems. India has also emphasized balanced trade, services and resilient global value chains under its 2026 BRICS chairship.
Watch this video to understand BRICS Summit 2026, India’s trade deficit, India-China trade, India-Russia trade, BRICS economic integration, market access and India’s strategy for increasing exports.
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