BRICS Countries’ Exports Rise to US$ 6 Trillion in 2024, Highlighting Trade Potential: Union Minister for Commerce and Industry, Mr. Piyush Goyal
- IBEF
- September 14, 2026
Union Minister for Commerce and Industry, Mr. Piyush Goyal, highlighted the growing trade potential of BRICS during the Leaders’ Session of the BRICS Business Forum at Bharat Mandapam, New Delhi. During India’s BRICS Chairship, the bloc has focused on achieving more balanced trade among member countries and expanding trade in services. Exports from BRICS countries have increased significantly from around Rs. 42.25 lakh crore (US$ 900 billion) in 2003 to Rs. 498.28 lakh crore (US$ 6 trillion) in 2024, reflecting the scale of the bloc’s market and its potential for greater economic cooperation. The BRICS Business Forum, attended by more than 2,000 business leaders and delegates from member and partner countries, is the largest such forum held under the grouping.
The discussions focused on key areas including non-tariff barriers affecting global value chains, agriculture and agri-technology, services trade, women-led enterprises and the digital economy. The Forum also emphasised the need to ensure that greater economic cooperation benefits key segments of BRICS economies, including farmers, women entrepreneurs, young entrepreneurs and Micro, Small and Medium Enterprises (MSMEs). Expanding trade in services and addressing barriers to cross-border commerce are expected to support stronger economic integration among BRICS members. The focus on digital economy and emerging business opportunities is also expected to create new avenues for startups and enterprises across member and partner countries. India’s BRICS Chairship is seeking to strengthen trade and investment linkages while promoting more inclusive economic growth and wider participation in the benefits of increased intra-BRICS cooperation.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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