India and the BRICS Countries: Analysis of Pattern of FDI (foreign Direct Investment)

The defining feature of trade in the last two decades or so has been the growth of south-south trade which has exceeded growth of world trade and trade between developed and developing countries. Among other country groupings the emergence of the BRICS bloc in recent years has certainly been a new development which merits some study. What is clear is that in the one and half decades there has been a phenomenal growth in intra BRICS trade. The analysis indicates that, with the exception of China and Brazil, the pattern of FDI from BRICS countries has not been conducive to promoting intra bloc trade. Barring China and Brazil, FDI outflows have largely been promoting regional trade. For India, in fact, FDI is still oriented towards the developed countries.