Brics+ group expected to surpass G7 in global trade by 2026: EY India

Quick Summary:

The BRICS+ grouping of nations like India, China and Russia is rapidly increasing its share in global merchandise exports and imports and is expected to surpass G7 group by 2026, EY India said in its latest edition of EY Economy Watch.

The share of BRICS+ group in global merchandise exports has increased from 10.7 per cent in 2000 to 23.3 per cent in 2023, an increase of 12.6 percentage points.

On the other hand, the share of the G7 group in global exports has fallen by a margin of 16.2 percentage points from 45.1 per cent to 28.9 per cent over the same period.

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Category: BusinessFinance

Markets: IndiaChina

Topics: Indian Economy BRICS India trade

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 15:12:37 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 801 words

Reading Time: 5 minutes read

Sentences: 25 lines

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News ID: 23347468

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