BRICS Summit Opens New Growth Window, Industry Urges India To Turn Global South Ties Into Trade And Investment Gains

New Delhi: India should use the upcoming 18th BRICS Summit to convert its growing engagement with the Global South into stronger exports, investment, technology partnerships and resilient supply chains, the Federation of Indian Export Organisations (FIEO) said on Wednesday.

The BRICS Summit, scheduled for September 12-13, could provide Indian companies with greater access to markets across Asia, Africa, the Gulf, Latin America and Eurasia.

FIEO Seeks Easier Trade Across BRICS

FIEO has called for practical measures to make cross-border business easier, including faster customs procedures, fewer non-tariff barriers and greater regulatory transparency.

It also wants mutual recognition of standards, improved logistics connectivity, digital trade documentation and simpler cross-border payment systems.

FIEO President S C Ralhan said BRICS should move beyond strategic discussions and deliver measurable commercial benefits through better market access, investment flows, technology cooperation and supply-chain partnerships.

New Opportunities for Indian Exporters

According to FIEO, stronger BRICS trade cooperation could improve India's access to critical minerals, energy, technology and capital while opening new manufacturing opportunities.

Indian companies could benefit across engineering goods, pharmaceuticals, chemicals, textiles and apparel, automobiles, electronics, food and agriculture, renewable energy, healthcare and digital services.

BRICS economies together account for around 26% of global trade, giving India an opportunity to diversify exports beyond traditional markets.

FIEO said India should aim not only to sell more products to BRICS nations but also become part of their production, sourcing and global value chains.

Local Currency Trade in Focus

The exporters' body also backed commercially viable mechanisms for settling more intra-BRICS trade in local currencies, which could lower transaction costs and help MSMEs enter new markets.

FIEO also called for sector-specific buyer-seller meetings, investment matchmaking, technology partnerships, joint ventures and regular business delegations to strengthen business-to-business ties within BRICS.