India to press BRICS on trade barriers to cut deficit
Business
India's gearing up to talk trade barriers with its BRICS partners, hoping to boost exports and shrink a big trade gap.
In FY 2025-26, BRICS countries made up 41.5% of India's imports but only 21.7% of exports, leaving India with a $226.1 billion deficit.
China alone was behind nearly half that number.
India seeks China access, Russia reforms
India is pushing for better market access in China, where most trade still favors Chinese imports ($131.63 billion).
With Russia, the spotlight is on cutting red tape around electronics and cars and making rupee-ruble trading smoother, especially since crude oil dominates what India buys from them and the deficit tops $50 billion.
Both countries are aiming to hit $100 billion in bilateral trade by 2030 through new agreements and easier rules.