BRICS Summit: Indian exporters seek tangible gains in exports, investment, tech, and supply chain resilience

India which is hosting the 18th BRICS Summit in New Delhi on September 12-13 should utilise the opportunity to convert its growing strategic engagement with the Global South into tangible gains in exports, investment, technology and resilient supply chains, Federation of Indian Export Organisations (FIEO) has said. 

 “BRICS should now move beyond strategic dialogue to measurable commercial outcomes. For Indian businesses, its real value will lie in easier market access, stronger supply-chain partnerships, investment flows, technology, collaboration and efficient payment mechanisms”, S C Ralhan, President, FIEO, said,

The 11-country BRICS bloc together accounts for around 26% of global trade.

According to Ralhan, India has considerable export opportunities in engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles and auto components, electronics, food and agricultural products, renewable energy, healthcare and digital services. At the same time, closer BRICS cooperation can improve India’s access to critical minerals, energy, technology, capital and new manufacturing partnerships, he said

“The opportunity is not simply to sell more to BRICS countries. India should become an integral part of the production, sourcing and value chains being developed across these economies,” Ralhan said.

FIEO urged the Summit to focus on a few practical deliverables for businesses: faster customs procedures, reduction of non-tariff barriers, greater regulatory transparency, mutual recognition of standards and conformity assessment, improved logistics connectivity, digital trade documentation and easier cross-border payments. 

“Payment uncertainty can itself become a trade barrier. Efficient, transparent and compliant payment arrangements can reduce transaction costs and give businesses, particularly MSMEs, greater confidence to enter new markets,” Ralhan said.

FIEO also called for a much stronger business-to-business architecture within BRICS, including sector-specific buyer-seller meetings, investment matchmaking, technology partnerships, joint ventures and regular business delegations. 

“The real test of BRICS will be whether its benefits reach manufacturers, exporters, startups and MSMEs. Political goodwill has to travel from summit tables to shop floors,” Ralhan said. Stating that trade and investment must move together, he wanted India to look at co-production, joint ventures and technology transfer rather than viewing BRICS markets only through the prism of exports and imports.

“India’s BRICS leadership should ultimately be judged by outcomes—more exports, greater investment, stronger technology partnerships and deeper participation of Indian MSMEs in global value chains. If New Delhi can move BRICS in this direction, the Summit can become an important economic milestone for India and the wider Global South,” Ralhan added.