india pushes for Trade Balance Within BRICS as China Advocates for Bloc Cohesion
Johannesburg, South Africa – India is urging its BRICS partners – Brazil, Russia, China, and South Africa – to proactively address trade imbalances within the economic bloc, signaling a desire for fairer economic relations as the group considers expansion. The call for action comes as China emphasized the importance of unity and collective strength amongst BRICS nations during a recent meeting of trade ministers.
While overall trade between BRICS countries has grown, significant deficits persist for some members, notably India, which consistently imports more from China than it exports. New Delhi believes a more equitable distribution of trade benefits is crucial for strengthening the bloc’s long-term viability and fostering genuine economic cooperation. This push for rebalancing coincides with BRICS’ ongoing discussions about potential new members and its ambition to present itself as an alternative economic power centre to established Western-led institutions.
“We need to work together to reduce these trade deficits,” stated a senior indian trade official, speaking on background. “A more balanced trade relationship will ensure that all BRICS members benefit from this partnership.”
China, though, stressed the need for BRICS to maintain a unified front amidst global economic uncertainties. During the trade ministers’ meeting, Chinese officials called for enhanced collaboration and a rejection of protectionist measures. “BRICS countries should strengthen solidarity and cooperation, oppose trade protectionism, and work together to safeguard the multilateral trading system,” a statement released by the Chinese Ministry of Commerce read.
The dynamic reflects a broader tension within BRICS: India’s desire for a more level playing field versus China’s established economic dominance within the group. Experts note that India’s call for addressing trade deficits is not solely focused on china, but encompasses imbalances with other BRICS partners as well.
BRICS represents over 40% of the world’s population and approximately 26% of global GDP. The bloc is currently evaluating applications from numerous countries seeking membership, including Saudi arabia, Iran, and Argentina, a process expected to be finalized at the upcoming BRICS summit in Johannesburg. The outcome of these deliberations, and the ability of BRICS nations to address internal trade concerns, will be pivotal in shaping the bloc’s future role in the global economy.
