The Indian Model: A New Blueprint for Trade-Led Development in BRICS

The authors examine the strategic use of international trade for economic development within the BRICS coalition, with a specific focus on India. It begins by providing an overview of the economic structures and trade orientations of Brazil, Russia, India, China, and South Africa, highlighting their collective shift towards a multipolar global economic order. The analysis then delves into the diverse international strategies employed by these nations, including export-led growth, resource-based trade, and regional agreements. The core of the chapter presents India as a distinctive case study, tracing its transformative journey from a protected economy to a globally integrated one. It details India’s unique service-led development model, its successes in merchandise trade, and the role of trade in poverty reduction. However, the chapter also critically addresses the significant challenges India faces, such as infrastructure bottlenecks, an undiversified export basket, over-reliance on services, and geopolitical tensions. Finally, the authors outline future opportunities for India, including leveraging demographic dividends, the China Plus One strategy, and the green transition, and concludes with policy recommendations aimed at enhancing competitiveness, fostering inclusive growth, and solidifying India’s role as a central architect in the global economic landscape.