Xi Jinping India visit: BRICS summit may give fresh push to India-China trade, investment ties

Chinese President Xi Jinping’s expected visit to New Delhi for the BRICS Summit on September 12-13 could provide fresh momentum to India-China economic engagement, with trade, investment and greater business cooperation likely to gain importance as the two countries seek to build on the recent improvement in bilateral relations.

Xi’s visit, his first to India in seven years, comes at a time when New Delhi and Beijing are seeking to strengthen high-level engagement and expand areas of practical cooperation. The BRICS platform could provide an additional avenue for the two countries to work together on trade, investment, technology and global supply chains.

India-China trade crosses $150 billion

India-China bilateral goods trade reached $151.10 billion in FY2025-26, rising 18.31% from the previous year, according to data cited by the Indian Embassy in Beijing. India’s exports to China rose 36.62% to $19.47 billion, while imports increased 16.03% to $131.63 billion during the year.

The sharp rise in trade provides a sizeable base for the two countries to explore further commercial opportunities. China’s Foreign Minister Wang Yi said in July that bilateral trade had reached a “new high”, while calling for stronger cooperation in areas including economy and trade.

Prime Minister Narendra Modi and Xi had also underlined the importance of expanding bilateral trade and investment ties and reducing the trade deficit during their previous engagement. The two leaders recognised the role of India and China in helping stabilise global trade.

Beijing backs ‘partners, not competitors’ approach

China has sought to underline the constructive direction of the relationship. Its foreign ministry said Xi and Modi view India and China as “partners, not competitors”, with the two countries representing “opportunities, not threats, for each other’s development.”

India has also moved towards greater economic engagement, including easing some restrictions on Chinese investment in sectors such as electronics, capital goods and solar cells. The approval of a manufacturing venture involving Dixon Technologies and Chinese smartphone maker Vivo is among the recent developments highlighting the scope for industrial cooperation.

BRICS could widen trade, investment opportunities

The economic agenda of India’s BRICS chairmanship is focused on expanding trade and investment, strengthening global value chains and improving opportunities for businesses across member economies. At the BRICS Trade Ministers’ Meeting in Jaipur, members advanced work towards the Strategy for BRICS Economic Partnership 2030 and backed greater trade in services and resilient, diversified global value chains.

The Federation of Indian Export Organisations has also called for the BRICS Summit to translate political goodwill into “trade, investment and technology partnerships”, with easier market access, stronger supply-chain partnerships and investment flows among its priorities.

Against this backdrop, Xi’s India visit could provide an important opportunity to further align the economic interests of the two countries. Former Indian trade official Anup Wadhawan said a meeting between the two leaders can “always afford opportunities to better align political and economic interests.”

With India and China set to successively hold the BRICS chairmanships, closer coordination could also help strengthen the grouping’s economic agenda and open new avenues for trade, investment and business cooperation.