Business

India's FM Sitharaman Advocates for Global Reforms at BRICS, Highlighting Domestic Strength and Strategy

BRICS: A Platform for Inclusive Multilateralism

Finance Minister Nirmala Sitharaman emphasized the importance of BRICS as a crucial platform for promoting inclusive multilateralism, especially during times when global institutions are questioned for their legitimacy and representation.

Brics policy voice: FM Sitharaman calls for credible reforms amid global institutional crisis, India cites domestic resilience and macro strategy at Rio meet

India's Resilience and Strategy

Speaking at the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro, Sitharaman showcased India's resilience, attributing it to strong domestic demand, prudent macroeconomic management, and targeted fiscal measures.

Policy Responses and Reforms

She detailed India's approach to overcoming trade and financial challenges through market diversification, infrastructure-led growth, and structural reforms aimed at enhancing competitiveness and productivity.

Call for Global South's Voice

Sitharaman urged BRICS nations to lead by example, advocating for credible reforms and amplifying the global South's voice, while also addressing the disproportionate burden of climate action on these countries.

Strengthening Bilateral Ties

On the sidelines, Sitharaman engaged in bilateral discussions with Russian and Chinese counterparts, focusing on mutual interests and cooperation avenues.