India is likely to raise market access issues with BRICS partners at upcoming meetings as New Delhi looks to increase bilateral trade and boost exports. While trade with BRICS countries has expanded, imports have grown much faster than exports, CNBC TV18 reported, quoting government sources.
BRICS partners accounted for 41.5% of India’s merchandise imports and 21.7% of its merchandise exports in FY 2025-26. During the year, India’s trade deficit with BRICS countries stood at $226.1 billion, with nearly half of the gap coming from China.
India imported goods worth $321.8 billion from BRICS partners, while exports stood at $95.7 billion.
China Drives The Biggest Trade Gap
India’s largest BRICS trade deficit was with China at $112.16 billion. Bilateral trade between the two countries
stood at $151.1 billion in FY 2025-26.
Trade between India and China reached $91.72 billion in the first six months of the current financial year, while the trade deficit stood at $67.1 billion.
India’s imports from China touched $131.63 billion in FY 2025-26, accounting for nearly 17% of its total merchandise imports.
New Delhi continues to engage with Beijing on market access issues. China, meanwhile, has claimed that India’s import restrictions on products such as solar panels violate World Trade Organisation norms.
The Ministry of Commerce and Industry told Parliament that India’s dependence on Chinese imports was linked to rapid economic growth, industrialisation, urbanisation, an expanding manufacturing base and deeper integration with global value chains.
Imports include lithium, cobalt, nickel, graphite, copper and rare earth elements used in clean energy technologies, electric vehicles, electronics and semiconductor manufacturing.
Machinery And Technology Add To Imports
The ministry has also said imports of intermediate goods, capital equipment and advanced technologies support sectors including pharmaceuticals, fertilisers, energy, advanced manufacturing and infrastructure.
India’s main exports to China over the past five years have included iron ore, light naphtha, p-xylene, shrimps and castor oil.
The Embassy of India in Beijing has said exports of raw material-based commodities were gradually overshadowed by Chinese exports of machinery, electronics, personal computers, monolithic integrated circuits, parts of telephonic and telegraphic equipment, lithium-ion products and fertilisers.
Russia Also A Key Focus
India is also seeking greater market access in Russia as it attempts to reduce a trade deficit of more than $50 billion.
New Delhi has urged Moscow to reduce non-tariff barriers affecting exports of electronics, electrical products and automobiles. India wants to increase exports of pharmaceuticals, chemicals, engineering goods, machinery, automobiles, agricultural products and marine goods.
Efforts are also underway to expand overall rupee-rouble trade.
Crude oil accounts for around 80% of Russia’s exports to India. India’s goods exports to Russia were worth $4.88 billion in FY 2025, while both countries have set a target of $100 billion in bilateral trade by 2030.
Government sources had indicated in December 2025 that India could explore a separate services pact with Russia because the Eurasian Economic Union is a customs union and existing trade agreements do not cover services.
Non-Tariff Barriers In Focus
India is not keen on including gold and precious metals in a proposed trade agreement with the EAEU. Earlier, government sources said initial discussions would focus on sensitivities on both sides, the frequency of negotiations and products where both sides want to increase trade.
India has flagged more than 65 non-tariff barriers affecting its marine exports. Sources have identified four barriers faced by Indian pharmaceutical exporters to the bloc: registration procedures, clinical trials, market access and price registration.
India also wants to remove regulatory overlaps involving Russian, EAEU and European rules. Work is underway to provide clarity on rules for products requiring Russian-language labels inside and outside packaging.
FTA negotiations with the bloc are likely to cover customs administration, e-commerce, intellectual property rights, sanitary and phytosanitary measures, tariffs and technical regulations.
Local Currency And Labour Mobility
Officials in the Ministry of External Affairs said Indian and Russian central banks are discussing a mechanism for settling trade in local currencies.
The document for an agreement on labour mobility between India and Russia has also been finalised, with both sides undertaking the required processes for signing it.
For India, the BRICS trade discussions are therefore focused on opening markets, addressing barriers and creating more opportunities for Indian exporters as imports continue to outpace exports.
