India Eyes Higher Textile Exports as BRICS Trade Ties Deepen
ASSOCHAM study highlights export potential under the expanded BRICS Plus framework as India strengthens manufacturing and regional trade ties.
India's textile and apparel exports to BRICS countries stood at Rs 36,535 crore (US$3.87 billion) in FY2024, before easing to Rs 34,647 crore (US$3.67 billion) in FY2025.
During the same period, India's imports of textiles and apparel from BRICS countries increased by 6.9% to Rs 36,854 crore (US$3.90 billion), underlining the bloc's importance as both an export destination and a sourcing market.
According to a study released by the ASSOCHAM Global Strategy and Research Centre, India has the potential to expand exports to BRICS member countries through stronger economic cooperation under the expanded BRICS Plus framework, supported by the country's growing manufacturing competitiveness.
Economic Growth Supports Export Expansion
The report noted that India remains among the world's fastest-growing major economies, recording average annual growth of over 7% during FY21-FY26. The study stated that this growth positions India to play a larger role in shaping the economic agenda of the BRICS grouping amid changing geopolitical and global trade conditions.
ASSOCHAM said that closer collaboration in trade and investment, supply chain integration, industrial cooperation, the digital economy, green development and customs coordination could strengthen economic relationships among BRICS members while supporting the bloc's role in the future global economic landscape.
Exports Could Exceed US$200 Billion by 2030
According to the study, India's exports to BRICS countries reached US$96 billion in FY2026.
The chamber estimates that exports could exceed US$200 billion by 2030 through targeted policy measures and stronger South-South cooperation. If achieved, India's share of total imports by BRICS countries could rise to 4% by the end of the decade.
Textiles Among Key Growth Sectors
The report identified several sectors with significant export potential, including:
- Textiles
- Leather goods
- Engineering products
- Pharmaceuticals
- Automobiles and auto components
- Chemicals
- Gems and jewellery
- Electronic equipment
- Food products
Collectively, BRICS countries account for nearly 40% of global GDP, 26% of world trade and around half of the global population, offering opportunities for increased trade, investment and strategic partnerships.