BRICS trade share climbs to nearly a quarter of global exports, says Goyal

At the Leaders’ Session of the BRICS Business Forum in New Delhi, Trade Minister Piyush Goyal presented data showing that the bloc's merchandise exports have surged from about $900 billion in 2003 to almost $6 trillion today. The rise has doubled BRICS' contribution to global exports, moving from roughly 12% to close to 24% of the total. Goyal linked this growth to the expanding economic significance and recent enlargement of the group.

He emphasized that the next challenge is converting the higher global share into stronger trade among member countries, calling for more robust inter-BRICS commerce and supply-chain resilience. The remarks were made in the presence of Prime Minister Narendra Modi, President Vladimir Putin and other BRICS leaders, as the summit continues in New Delhi.