Union Finance and Corporate Affairs Minister Nirmala Sitharaman held separate bilateral meetings with her counterparts from Russia, Brazil and China during the BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting in Rio de Janeiro.
In her meeting with Russian Finance Minister Anton Siluanov, Sitharaman reaffirmed the “long-standing” partnership between India and Russia. She also thanked Russian President Vladimir Putin for his unwavering support after the recent terror attack in Pahalgam.
Sitharaman said that both countries enjoy “exemplary levels of mutual trust and understanding,” and underlined the strength of the “Special and Privileged Strategic Partnership”. The two ministers discussed bilateral financial cooperation, developments at the New Development Bank (NDB), and new initiatives under the BRICS framework.
She also congratulated Russia for successfully chairing BRICS in 2024 and said that India remains committed to boosting South-South cooperation through the platform.
“The two sides also discussed issues of bilateral cooperation, including cooperation in the financial sector, along with matters related to NDB,” the Ministry of Finance said in a post on X.
Sitharaman also met Brazilian Finance Minister Fernando Haddad. During the meeting, both sides shared views on raising the voice of the Global South, climate finance before COP30 and working together at global platforms such as the UN, G20, WTO, BRICS and IBSA.
“The two leaders discussed issues of mutual interest, including South-South cooperation, amplifying the voice of the Global South, COP30 and climate finance issues, and engagement in regional and global forums such as the United Nations, G20, BRICS, WTO and IBSA,” the Finance Ministry in its post said.
She praised Brazil’s leadership of BRICS, especially its efforts to build a “multipolar world order” and expand the grouping. She said India would support Brazil’s priorities and would focus on practical cooperation when it takes over the BRICS Chairship in January 2026. Sitharaman also spoke about the strategic importance of India-Brazil ties and their growing collaboration in different sectors.
“India and Brazil, as strategic partners, share warm and cordial ties spanning across multiple sectors, and are cooperating closely in multiple sectors to further strengthen the strategic partnership,” the Finance Ministry quoting Sitharaman said.
Earlier, Sitharaman met China’s Finance Minister Lan Fo’an. She recalled meeting him earlier in Samarkand during the AIIB Annual Meetings in September 2024.
Sitharaman said that India and China are among the “world’s largest and fastest-growing economies” and can play a major role in pushing “inclusive” global growth and innovation. She referred to their civilisational ties and growing economic power and said both countries must work more closely to represent the Global South and help shape global debates.
“Finance Minister Nirmala Sitharaman highlighted that India and China can strengthen collaboration across a wide range of areas due to the common rich human capital, deep civilizational ties, and expanding economic influence,” the Finance Ministry said in its X post, adding,” The Union Finance Minister suggested that deeper engagement between the two countries can help to amplify the voice of developing economies, and shape global narratives that reflect the priorities and aspirations of the Global South.”
