FM Nirmala Sitharaman holds talks with colleagues from Russia, Brazil and China in Rio de Janeiro
Union Finance and Corporate Affairs Minister Nirmala Sitharaman held a bilateral meeting with his colleagues from Russia, Brazil and China during the meeting of the BRICS Finance Ministers and the Governor of the Central Bank (FMCBG) in Rio de Janeiro.
Sitharaman reiterated the “long-term” partnership between India and Russia during a meeting with Russian Finance Minister Anton Siluanov. She also thanked Russian President Vladimir Putin for his unwavering support following the recent terrorist attack in Pahalgam.
Sitharaman said both countries enjoyed a “exemplary level of mutual trust and understanding” and emphasized the strength of a “special and privileged strategic partnership.” The two ministers discussed bilateral financial cooperation, the development of the New Development Bank (NDB), and new plans under the BRICS framework.
She also congratulated Russia on its successful position as chairman of International Gold Tool Products in 2024, and said India remains committed to promoting South-South cooperation through the platform.
“The two sides also discussed the issues of bilateral cooperation, including cooperation in the financial sector and matters related to NDB,” the Ministry of Finance said in an article on X.
Sitalaman also met with Brazilian Finance Minister Fernando Haddad. During the meeting, both sides shared their views on improving the voice of the Global South, pre-COP30 climate financing and joint efforts at global platforms such as the United Nations, G20, WTO, BRICS and IBSA.
“The two leaders discussed issues of common interests, including South-South cooperation, expanded voices on the global South, COP30 and climate finance issues, and participated in UN and global forums such as the United Nations, G20, Brics, Brics, WTO, and IBSA,” the Ministry of Finance said in its post.
She praised Brazil’s leadership over the BRICS countries, especially its efforts to establish a “multipolar world order” and expand its grouping. She said India will support Brazil’s priorities and will focus on practical cooperation when it takes over the BRICS countries in January 2026. Sitharaman also talked about the strategic importance of India-Brazil relations and its growing cooperation in different sectors.
The Ministry of Finance quoted Sitharaman as strategic partners, “India and Brazil share warm and cordial ties across multiple departments and work closely together in multiple departments to further strengthen the strategic partnership.”
Previously, Sitharaman met with Chinese Finance Minister Lan Fo’an. She recalled meeting in Samarkand during the AIIB annual meeting in September 2024.
Sitharaman said India and China are one of the “largest and fastest growing economies in the world” and can play an important role in driving “inclusive” global growth and innovation. She mentioned their civilized connections and growing economic power and said the two countries must represent the global South more closely and help shape global debate.
“Treasury Minister Nirmala Sitharaman stressed that India and China can strengthen cooperation in various fields, which is due to the shared rich human capital, deep civilized links and expanding economic influence,” the Ministry of Finance said in its post X, adding that “the deep competition between the Union Finance Ministers can help the overall efforts and the efforts of their efforts and the efforts of their efforts, and gradually form efforts and express their efforts on a global scale, and express their efforts on a global scale, and express their efforts on a global scale.
