Union Finance and Company Affairs Minister Nirmala Sitharaman held separate bilateral conferences together with her counterparts from Russia, Brazil and China through 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 help after the current terror assault in Pahalgam.
Sitharaman mentioned that each nations get pleasure from “exemplary ranges of mutual belief and understanding,” and underlined the energy 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 below the BRICS framework.
She additionally congratulated Russia for efficiently chairing BRICS in 2024 and mentioned 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 mentioned in a submit on X.
Sitharaman additionally met Brazilian Finance Minister Fernando Haddad. In the course of the assembly, each side shared views on elevating the voice of the International 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 International 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 submit mentioned.
She praised Brazil’s management of BRICS, particularly its efforts to construct a “multipolar world order” and broaden the grouping. She mentioned India would help Brazil’s priorities and would deal with sensible cooperation when it takes over the BRICS Chairship in January 2026. Sitharaman additionally spoke in regards to 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 carefully in a number of sectors to additional strengthen the strategic partnership,” the Finance Ministry quoting Sitharaman mentioned.
Earlier, Sitharaman met China’s Finance Minister Lan Fo’an. She recalled assembly him earlier in Samarkand through the AIIB Annual Conferences in September 2024.
Sitharaman mentioned that India and China are among the many “world’s largest and fastest-growing economies” and might play a significant position in pushing “inclusive” world progress and innovation. She referred to their civilisational ties and rising financial energy and mentioned each nations should work extra carefully to symbolize the International South and assist form world debates.
“Finance Minister Nirmala Sitharaman highlighted that India and China can strengthen collaboration throughout a variety of areas because of the frequent wealthy human capital, deep civilizational ties, and increasing financial affect,” the Finance Ministry mentioned in its X submit, including,” The Union Finance Minister instructed that deeper engagement between the 2 nations may also help to amplify the voice of creating economies, and form world narratives that mirror the priorities and aspirations of the International South.”
