With BRICS 2026 now bringing together 11 member countries and a wider partner network, India’s 2026 chairship is putting trade, market access, supply chains, payments and business cooperation at the centre of a much larger emerging-market conversation.
BRICS is no longer the relatively small grouping it was when it began.
Today, the grouping has 11 member countries — Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia and the United Arab Emirates — representing about 49.5% of the world’s population, 40% of global GDP and 26% of global trade, according to the Government of India. India is hosting the 18th BRICS Summit in New Delhi on 12–13 September 2026 under its chairship.
For Indian businesses, however, the more important question is not simply how large BRICS has become.
The question is:
Can a bigger BRICS create bigger markets, stronger business connections and new opportunities for Indian companies?
From Political Grouping to Business Opportunity
BRICS has traditionally attracted attention for its geopolitical and economic significance.
But its commercial importance is becoming harder to ignore.
India’s Commerce and Industry Minister Piyush Goyal has called for deeper and more balanced intra-BRICS trade, easier market access, simpler regulatory procedures, stronger supply chains and greater use of local currencies in trade. The areas highlighted for cooperation include agriculture, pharmaceuticals, engineering, electronics, automobiles, services, startups and emerging technologies.
That creates several areas for Indian businesses to watch.
1. New Markets for Indian Exporters
A larger BRICS ecosystem gives Indian exporters a wider set of markets to study.
The opportunity is not limited to selling more products. Businesses can also look at:
- New distributors
- Importers and buyers
- Sourcing relationships
- Manufacturing partnerships
- Technology collaborations
- Services exports
- Investment partnerships
For an Indian manufacturer already looking beyond the domestic market, BRICS can therefore become another framework for identifying potential markets.
But the opportunity will differ by product and country.
A pharmaceutical exporter, an engineering company, a food producer and a technology startup will not necessarily find the same opportunities across BRICS.
The next step for businesses is therefore market-by-market and product-by-product analysis, rather than treating BRICS as one single market.
2. Trade Between BRICS Countries Is Already Significant
The opportunity is not starting from zero.
According to India’s Commerce Secretary, intra-BRICS merchandise trade increased from US$84 billion in 2003 to US$1.17 trillion in 2024, a thirteen-fold increase. The government has also said that this trade has significant untapped potential.
That growth provides an important signal.
The question for Indian businesses is now whether the next phase of BRICS cooperation can make it easier for companies to participate in that expanding trade.
3. Supply Chains Could Become a Major Opportunity
Global businesses are increasingly looking at supply-chain diversification and resilience.
This could create opportunities for Indian manufacturers and suppliers that can offer competitive products, reliable production and consistent quality.
At the BRICS Business Forum, External Affairs Minister S. Jaishankar highlighted supply-chain connectivity, trade facilitation and innovation as important priorities.
For Indian companies, this means watching where BRICS businesses are looking for:
Alternative suppliers → New production locations → Components → Raw materials → Technology → Logistics partnerships
The opportunity may therefore come not only from exporting finished products, but also from becoming part of international supply chains.
4. Payments Could Change the Way Businesses Trade
Cross-border payments remain an important issue for international businesses.
India has been advocating stronger payment-system links among BRICS countries and greater use of local currencies in trade.
For exporters and importers, developments in this area matter because payment efficiency, transaction costs, currency exposure and settlement mechanisms can influence the practicality of a trade relationship.
However, businesses should distinguish between policy discussions and operational systems that are actually available for commercial use.
The important question will be what mechanisms ultimately move from discussion to implementation.
5. Which Indian Industries Should Watch BRICS Closely?
Several sectors have already emerged in the current BRICS business discussions.
Pharmaceuticals
India’s pharmaceutical capabilities could find opportunities across emerging markets where affordable medicines and healthcare products remain important.
Engineering and Manufacturing
Engineering goods, industrial products, machinery and components can benefit if supply-chain and market-access cooperation deepens.
Electronics and Technology
Electronics, digital services, emerging technologies and technology partnerships are increasingly part of the BRICS economic conversation.
Automobiles and Auto Components
India’s automotive manufacturing ecosystem could explore opportunities in both finished products and components.
Agriculture and Food
Agricultural products and food-related trade could benefit from stronger market connections, subject to country-specific standards, regulations and market requirements.
Services and Startups
The opportunity is not limited to merchandise exports. Services, startups, technology and innovation partnerships are also gaining attention.
These sectors should therefore be watched as the summit discussions develop.
6. Standards and Market Access Will Matter
Finding a buyer is only the beginning of international trade.
Products must also meet the destination market’s:
- Standards
- Certifications
- Technical requirements
- Labelling rules
- Documentation requirements
- Customs procedures
BRICS countries have already been working on cooperation in standardisation and quality infrastructure. A formal framework for greater collaboration in standards, technical expertise and capacity building has been under discussion under India’s 2026 chairship.
For exporters, this is an area worth watching closely.
If technical cooperation eventually makes cross-border compliance easier, it could have a much more practical effect on businesses than a headline about BRICS expansion alone.
7. Startups Are Getting a Direct Business Platform
The BRICS opportunity is also reaching India’s innovation ecosystem.
The Bharat Innovates Exposition, being held at Bharat Mandapam on 11–12 September, is showcasing Indian deep-tech innovation alongside the BRICS Summit. The programme includes 37 Indian deep-tech innovators and is designed to facilitate B2B engagement, matchmaking, investment discussions and international market access.
This is significant because it demonstrates how a major international summit can create opportunities beyond government meetings.
For startups, the value may lie in:
Technology → Investor → Corporate → Partner → International Market
That is exactly where the business ecosystem behind a major international event becomes important.
What Should Indian Businesses Watch Now?
As the BRICS Summit takes place in New Delhi, Indian businesses should watch five areas particularly closely:
1. Market Access
Will members take practical steps to make trade easier?
2. Payments
Will discussions on payment-system connectivity and local-currency trade move forward?
3. Supply Chains
Can BRICS cooperation create new sourcing and manufacturing opportunities?
4. Standards
Can greater cooperation reduce technical and compliance barriers?
5. Business Connections
Will companies, startups, investors and institutions turn the summit ecosystem into actual commercial relationships?
The Bigger Opportunity Is Not Just BRICS
For Indian businesses, BRICS should not be viewed simply as another international forum.
It can be viewed as a market-discovery framework.
The real opportunity lies in identifying:
Which country?
Which product?
Which buyer?
Which supplier?
Which sector?
Which business requirement?
Which partnership?
That is where the headline numbers surrounding BRICS begin to become commercially meaningful.
The Exim Times Perspective
A bigger BRICS does not automatically mean bigger business for every Indian company.
But a larger economic network, deeper trade discussions and stronger business-to-business engagement can create more possibilities for companies that know where to look.
As India hosts the 18th BRICS Summit, the most important story for businesses may therefore not be how big BRICS has become.
It may be:
Where will the next business opportunity emerge?
The Exim Times will follow the BRICS 2026 developments with a focus on trade, markets, businesses and the opportunities emerging behind the summit.
