Finance Minister Nirmala Sitharaman participated in high-level meetings on the sidelines of the BRICS Finance Ministers and Central Bank Governors’ gathering in Rio de Janeiro, Brazil.
Her engagements centred on strengthening bilateral and multilateral partnerships through strategic cooperation in the finance and development sectors.
In her meeting with Russian Finance Minister Anton Siluanov, Sitharaman reaffirmed the strength of India-Russia relations.
She conveyed appreciation for Russian President Vladimir Putin’s support following the Pahalgam terror attack, underlining the deep trust and mutual understanding between the two nations.
The ministers discussed enhancing financial cooperation and reviewed progress within the New Development Bank (NDB).
Finance Minister Sitharaman lauded Russia’s successful BRICS Chairship in 2024 and emphasised India’s commitment to South-South cooperation and continued collaboration on shared priorities.
During talks with Brazil’s Finance Minister Fernando Haddad, Sitharaman acknowledged Brazil’s contributions during its BRICS Chairship.
She expressed India’s support for Brazil’s multipolar world vision and affirmed shared goals such as strengthening the voice of the Global South, tackling climate finance issues, and advancing collaboration through forums like the UN, G20, WTO, and IBSA.
She noted the warm ties between India and Brazil, highlighting ongoing cooperation across sectors and the intention to deepen this strategic relationship.
The finance minister also conveyed India’s readiness to continue results-oriented cooperation when it assumes the BRICS Chairship in 2026.
In her meeting with China’s Finance Minister Lan Fo’an, Sitharaman noted that India and China—two of the world’s largest and fastest-growing economies—hold unique potential to shape global development narratives.
She emphasised the opportunity for collaboration in areas such as innovation, trade, and inclusive growth, building on their shared cultural heritage and human capital.
She advocated for closer engagement to amplify the voice of developing nations and align global priorities with the needs of the Global South.
FM Sitharaman’s strategic interactions in Brazil reinforce India’s growing influence within the BRICS bloc.
Her engagements not only bolstered bilateral ties but also aligned with India’s broader vision of inclusive global development, sustainable finance, and multipolar cooperation.
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