India’s Bilateral Trade With BRICS Nations Rises to $416Bn, But Deficit Widens

India’s bilateral trade engagement with BRICS nations has expanded steadily over the past five years, but the country’s trade deficit with the bloc has also widened sharply, according to a report by Rubix Data Sciences.

The report comes amid the BRICS Foreign Ministers’ Meeting being hosted by India on May 14-15, under the theme “Building for Resilience, Innovation, Cooperation and Sustainability”.

BRICS — now comprising 11 countries after the addition of Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the UAE — accounts for nearly half the world’s population, around 40% of global gross domestic product (GDP) and about 26% of global trade. Originally, it was constituted by five countries: Brazil, Russia, India, China, and South Africa.

Imports from BRICS Rise

India’s imports from other BRICS nations rose to $320bn in the calendar year 2025, growing at a compound annual growth rate (CAGR) of 12% between 2021 and 2025. The share of BRICS countries in India’s total imports increased from 36% in 2021 to 43% in 2025, indicating growing dependence on the bloc for imports.

Russia emerged as a major source of imports, with shipments to India rising at a 61% CAGR during the period, largely driven by crude oil purchases. Imports from the UAE and Brazil also recorded double-digit growth.

India’s exports to BRICS countries stood at $96bn in 2025, growing at a slower CAGR of 3% over the same period. BRICS countries accounted for around 22% of India’s exports. For the same period, the remaining 10 BRICS countries where India’s exports recorded high CAGR included the UAE (11%), Russia (8%), and Egypt (5%), the report stated.

Trade Deficit Nearly Doubles

India’s total bilateral trade with BRICS nations reached $416bn in 2025, up from $289bn in 2021. However, the trade deficit widened significantly from $117bn in 2021 to $224bn in 2025.

The report said India recorded trade deficits with China, Russia, Saudi Arabia, the UAE and Indonesia in 2025. The largest deficits were with China, at over $100bn, followed by Russia at $55bn.

BRICS’ Global Trade Share

Collectively, BRICS nations accounted for around 24% of global exports and 19% of global imports in 2025. Combined exports of the bloc stood at nearly $6.1trn, while imports totalled around $4.9trn.

China remains the dominant trading economy within the bloc, accounting for more than half of aggregate BRICS exports and imports, while India’s share stood at around 7% of exports and 13% of imports between 2021 and 2025.