According to a research report by industry body Assocham and Global Research and Strategy Centre titled The Rise of BRICS Nations: An opportunity to scale Indian Exports to $200 billion to BRICS by 2030, trade dynamics are influenced by various factors, including the economic performance of the BRICS+ countries, their trade policies and the global economic landscape.
For India, the opportunity is not only to export more to BRICS+ countries, but to strengthen its production, sourcing and value chains, technologies, settlement systems, along with the opportunity to learn from the best practices and ecosystems that have been developed across these economies, the report said.
“BRICS has emerged as an important platform for cooperation among major emerging economies and is assuring a growing role in shaping the global economic landscape...The objective of scaling India’s exports to BRICS countries to $200 billion by 2030 is, therefore, both timely and ambitious. There is considerable potential to identify emerging areas of demand, address trade barriers, strengthen value-added exports and build stronger business-to-business linkages across BRICS markets,” said Piyush Goyal, Commerce and Industry Minister in the report.
important avenue
At a time when global trade and investment are undergoing significant transformation, BRICS provides an important avenue for strengthening economic partnerships, deepening trade and investment linkages, promoting resilient supply chains and advancing cooperation across diverse areas of mutual interest, he added.Among the major emerging economies, India witnessed an average GDP growth of more than 7 per cent during the last five financial years (2021-26). Even in the first quarter of the current fiscal year, Indian economy recorded 7.8 per cent growth. As the fastest-growing major economy, India can play a pivotal role in broadening the bloc’s horizons and facilitating a coordinated approach to resolving challenges arising from global geopolitical and economic developments.
“The BRICS grouping, representing approximately 40 per cent of global GDP, 26 per cent of world trade and nearly 50 per cent of the global population, has become an important pivot in the global economy. With its expanded membership and growing influence, it offers new opportunities for trade, investment, technology cooperation and sustainable development. As the global economy continues to evolve, stronger engagement among BRICS nations can support growth, resilience and economic diversification,” said Nirmal Kumar Minda, President, Assocham.
initiatives galore
India, as one of the founding members of BRICS, has played an important role in shaping its agenda. The BRICS countries have established various economic cooperation initiatives spanning macroeconomic and finance, trade, investment, digital economy, green development, industrial and supply chain and customs coordination, the report added.Published on September 11, 2026
