2nd BRICS CGETI meeting in Gandhinagar; intra-BRICS trade has grown to US$1.17 trillion
Commerce Secretary Rajesh Agrawal gave the keynote address at the 2nd meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) in Gandhinagar, Gujarat, PIB reported on 16 May 2026, saying intra-BRICS trade had risen to US$1.17 trillion.
Summary
Commerce Secretary Rajesh Agrawal delivered the keynote address at the 2nd meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) in Gandhinagar, Gujarat, PIB reported on 16 May 2026; the first CGETI meeting was held virtually in March 2026. Rajesh Agrawal said intra-BRICS merchandise trade rose thirteen-fold, from US$84 billion in 2003 to US$1.17 trillion in 2024, but still makes up only about 5% of global trade. The meeting's theme was 'Building for Resilience, Innovation, Cooperation and Sustainability'. India holds the BRICS Chairship for the fourth time, after 2012, 2016 and 2021.
Key facts
- Meeting
- 2nd BRICS Contact Group on Trade and Economic Issues (CGETI)
- Venue
- Gandhinagar, Gujarat
- Keynote
- Commerce Secretary Rajesh Agrawal
- Intra-BRICS trade
- US$84 bn (2003) → US$1.17 trillion (2024); ~5% of global trade
- Theme
- Building for Resilience, Innovation, Cooperation and Sustainability
- India's Chairship
- Fourth time (earlier 2012, 2016, 2021)
Practice MCQs 3 questions
Which statement correctly describes India's BRICS Chairship as stated in May 2026?
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Correct answer: A — Fourth time; earlier in 2012, 2016 and 2021
India has assumed the BRICS Chairship for the fourth time, after 2012, 2016 and 2021.
According to the Commerce Secretary (May 2026), intra-BRICS merchandise trade reached what value in 2024?
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Correct answer: C — US$1.17 trillion
Intra-BRICS merchandise trade rose thirteen-fold from US$84 billion in 2003 to US$1.17 trillion in 2024.
The 2nd meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) in May 2026 was held in which city?
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Correct answer: B — Gandhinagar
The 2nd CGETI meeting was held in Gandhinagar, Gujarat; the first was held virtually in March 2026.