The BRICS group is still young as an organization, but has already proven its effectiveness. Brazil, Russia, India, China, and South Africa are coordinating their policies on key international issues ever more closely, and are playing an active part in shaping a multipolar world order and developing modern models for the world’s financial and trading systems.
Union Minister of State for Commerce and Industry CR Chaudhary has set an ambitious $50-billion target for bilateral trade between India and Russia over the next seven years. As of end-2018, trade between the two countries stood at $30 billion
India has already announced setting up of a fast track, single-window mechanism for Russian companies which would be chaired by Department for Promotion of Industry and Internal Trade (DPIIT) Secretary, he was quoted as saying in a statement