India's BRICS Trade Volume Up

INDIA'S trade with the key BRICS bloc—Brazil, Russia, India, China, and South Africa—has expanded significantly over the past four years, reaching a total volume of US$ 399 billion in 2024.

- VISMAY BASU @ New Delhi

This reflects a robust compound annual growth rate (CAGR) of nearly 20% between 2020 and 2024.

However, the sharp rise in trade has also resulted in a widening imbalance. While India's imports from BRICS countries touched US$ 304 billion, its exports stood at a relatively modest US$ 95 billion, leaving a trade deficit of US$ 209 billion.