India Calls on BRICS to Fix Trade Deficits as China Appeals for Solidarity

India asked its BRICS partners at a virtual summit to tackle increasing trade imbalances with the remark that some of its biggest deficits were with other members of the bloc. External Affairs Minister S. Jaishankar emphasized during the summit that New Delhi has been urging solutions to narrow gaps, especially with China and Russia.

The appeal followed Chinese President Xi Jinping calling on the group to join hands against "hegemonism, unilateralism, and protectionism," in a thinly veiled attack on U.S. tariffs. The Brazil-hosted summit occurred amidst an escalation of global trade tensions and U.S. President Donald Trump's imposition of tariffs on India, China, and Brazil.

India's deficit with China reached an all-time high of $99.21 billion in the year up to March 2025 as Chinese imports continued to rise. Russia also became a key driver of India's deficits, and bilateral trade between the two nations rose to $68.7 billion on the back of higher oil imports.

Despite tensions with Washington regarding tariffs and Russian oil buys, there were indications of healing this week. Trump characterized Prime Minister Narendra Modi as a "great leader," and Modi reacted well, emphasizing the strength of India-U.S. ties despite disagreements. Analysts indicate the comments demonstrate that although tensions exist, the structural relationship between the two nations remains healthy.