INDIA AND BRICS ECONOMIES: EVOLVING MERCHANDISE TRADE

Abstract

The study's objective is to investigate trade relations between India and the other BRICS countries using a 12-year data set spanning from 2012 to 2023. The paper carefully examined India's exports and imports in relation to its trade links with the other BRICS nations. The results of trade between India and the BRICS (Brazil, Russia, China, and South Africa) countries have increased over five-fold from US$ 45.7 billion in 2007 to US$ 241 billion in 2023, demonstrating the strong growth in bilateral trade between these countries and India. Even though China remains India's top import and export market, the other BRICS countries now account for a much larger portion of the country's overall trade value.India's trade intensity with the other BRICS nations has been analysed using the Trade Intensity Index, which reveals that all of the other BRICS nations, with the exception of China and Brazil, have increasing trade intensities with India.