Union Finance and Company Affairs Minister Nirmala Sitharaman held separate bilateral conferences along with her counterparts from Russia, Brazil and China in the course of the BRICS Finance Ministers and Central Financial institution Governors (FMCBG) assembly in Rio de Janeiro.
In her assembly with Russian Finance Minister Anton Siluanov, Sitharaman reaffirmed the “long-standing” partnership between India and Russia. She additionally thanked Russian President Vladimir Putin for his unwavering assist after the current terror assault in Pahalgam.
Sitharaman stated that each international locations get pleasure from “exemplary ranges of mutual belief and understanding,” and underlined the power of the “Particular and Privileged Strategic Partnership”. The 2 ministers mentioned bilateral monetary cooperation, developments on the New Improvement Financial institution (NDB), and new initiatives underneath the BRICS framework.
She additionally congratulated Russia for efficiently chairing BRICS in 2024 and stated that India stays dedicated to boosting South-South cooperation via the platform.
“The 2 sides additionally mentioned problems with bilateral cooperation, together with cooperation within the monetary sector, together with issues associated to NDB,” the Ministry of Finance stated in a put up on X.
Sitharaman additionally met Brazilian Finance Minister Fernando Haddad. Through the assembly, either side shared views on elevating the voice of the World South, local weather finance earlier than COP30 and dealing collectively at world platforms such because the UN, G20, WTO, BRICS and IBSA.
“The 2 leaders mentioned problems with mutual curiosity, together with South-South cooperation, amplifying the voice of the World South, COP30 and local weather finance points, and engagement in regional and world boards such because the United Nations, G20, BRICS, WTO and IBSA,” the Finance Ministry in its put up stated.
She praised Brazil’s management of BRICS, particularly its efforts to construct a “multipolar world order” and develop the grouping. She stated India would assist Brazil’s priorities and would give attention to sensible cooperation when it takes over the BRICS Chairship in January 2026. Sitharaman additionally spoke concerning the strategic significance of India-Brazil ties and their rising collaboration in numerous sectors.
“India and Brazil, as strategic companions, share heat and cordial ties spanning throughout a number of sectors, and are cooperating intently in a number of sectors to additional strengthen the strategic partnership,” the Finance Ministry quoting Sitharaman stated.
Earlier, Sitharaman met China’s Finance Minister Lan Fo’an. She recalled assembly him earlier in Samarkand in the course of the AIIB Annual Conferences in September 2024.
Sitharaman stated that India and China are among the many “world’s largest and fastest-growing economies” and might play a significant function in pushing “inclusive” world progress and innovation. She referred to their civilisational ties and rising financial energy and stated each international locations should work extra intently to signify the World South and assist form world debates.
“Finance Minister Nirmala Sitharaman highlighted that India and China can strengthen collaboration throughout a variety of areas as a result of frequent wealthy human capital, deep civilizational ties, and increasing financial affect,” the Finance Ministry stated in its X put up, including,” The Union Finance Minister advised that deeper engagement between the 2 international locations might help to amplify the voice of creating economies, and form world narratives that replicate the priorities and aspirations of the World South.”
