India Diversifies BRICS Trade Amid Import Concerns

Moneycontrol.com · business

India is actively seeking to diversify its trade relationships within the BRICS bloc. This strategic move comes as crude oil and petroleum products currently constitute a significant one-third of the nation's total imports. By broadening trade avenues, India aims to reduce its reliance on specific import categories and potentially foster stronger economic ties with other BRICS member nations. This diversification effort is crucial for enhancing India's economic resilience and managing its trade.