BRICS: Challenges and Opportunities Ahead
3 min read
BRICS Is Emerging as a Major Market Opportunity for Emerging-Stage Companies
The $1.17 trillion trade narrative—and why Indian new ventures should take note
For a significant portion of its existence, BRICS was regarded mainly as a political and diplomatic alliance.
For business founders, that characterization is steadily becoming insufficient.
A far more compelling narrative unfolds when nations representing a substantial portion of the world’s developing-market consumers strive to strengthen collaboration in commerce, financial services, technology, and entrepreneurial ecosystems.
India is set to host the 18th BRICS Summit in New Delhi on September 12–13, under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” According to India’s government, over 350 meetings and high-level discussions have already been conducted across more than 25 cities during its 2026 leadership period.
Yet one particular figure should instantly draw the focus of entrepreneurs:
$1.17 Trillion
This was the total value of trade conducted among BRICS members in 2024, as reported by India’s Ministry of Commerce.
In 2003, the equivalent amount stood at merely $84 billion.
Put another way, goods traded between BRICS nations have grown roughly 14-fold over a span of twenty years.
The Market Already Exists
The notion that BRICS is simply envisioning a future marketplace overlooks a critical reality:
Firms are actively engaged in commerce across these economies right now.
India’s goods exports to BRICS nations were projected at approximately $82 billion for fiscal year 2025–26, while India’s services exports to BRICS were estimated at around $31.3 billion in calendar year 2024.
For Indian enterprises, this established commercial presence signals potential across numerous industries, such as:
- Cloud-based software services
- Financial technology
- Supply chain and transportation
- Health technology
- Climate-focused innovation
- Industrial technology
- Artificial intelligence
- Digital security
- EdTech
- Consumer-facing technology platforms
- Advisory and professional consulting
The prospect, therefore, is not solely about identifying fresh buyers.
It centers on empowering smaller enterprises to connect more easily with customers who are already embedded within an expanding cross-border economic network.
The Unexplored Potential Is Even More Compelling
India’s Commerce Secretary has pointed out that trade among BRICS members still accounts for only roughly 5% of worldwide commerce, pointing to significant scope for growth.
This is precisely where emerging-stage companies hold special relevance.
A well-established corporation can enter a foreign market by opening a branch office, recruiting locally, and gradually building presence over multiple years.
A startup typically lacks those resources.
For a young company, going international often relies on a more straightforward sequence:
Customer → Local Collaborator → Payment Systems → Legal and Regulatory Guidance → Distribution Channels → Capital Access
Each additional obstacle in this chain raises the expense and difficulty of entering a new territory.
If enhanced BRICS cooperation could alleviate even a couple of these hurdles, the economic impact could be considerable.
| Indicator | Value | Significance |
|---|---|---|
| Intra-BRICS goods trade, 2003 | $84B | Baseline |
| Intra-BRICS goods trade, 2024 | $1.17T | Present-day scale |
| Approximate growth | 13.9× | Two-decade expansion |
| India’s goods exports to BRICS, FY2025–26 | $82B | Current Indian opportunity |
| India’s services exports to BRICS, CY2024 | $31.3B | Services potential |
| BRICS portion of global trade | ~5% | Suggests ample headroom |
Sources: Government of India / Press Information Bureau / Ministry of Commerce.
Data Visualization
Intra-BRICS Goods Trade Has Grown Substantially
| Year | Intra-BRICS Goods Trade |
|---|---|
| 2003 | $84B |
| 2024 | $1.17T |
Scale reference: $0 → $350B → $700B → $1T → $1.4T
2003 ━━━ $84B
2024 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ $1.17T
Source: Government of India, Ministry of Commerce, May 2026.
The key takeaway is not that BRICS is suddenly fabricating a $1.17 trillion marketplace.
That marketplace is already functioning.
The more crucial question is whether the surrounding infrastructure can make that marketplace easier to reach for smaller businesses.
For new ventures, outcomes will not be shaped by official statements alone.
They will be shaped by tangible progress in:
Cross-border payment systems
Market accessibility
Regulatory harmonization
On-the-ground alliances
Digital infrastructure development
Trade financing availability
Distribution frameworks
Technology partnerships
This is why the upcoming BRICS narrative needs to be evaluated through a different lens.
Not just by the number of agreements signed.
But by the number of Indian startups that genuinely expand into another BRICS economy.
And ultimately, by how many of them manage to build lasting, profitable operations in those markets.
