FM Sitharaman holds bilateral talks with Russia, China at BRICS

Union Finance Minister Nirmala Sitharaman held a series of high-level bilateral meetings with her counterparts from Russia, China, Indonesia, and Brazil on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro, reaffirming India’s commitment to strengthening strategic partnerships and amplifying the voice of the Global South.In her meeting with Russian Finance Minister Anton Siluanov, Sitharaman conveyed India’s gratitude to President Vladimir Putin for Russia’s support in the wake of the Pahalgam terror attack. The two leaders reviewed the robust and long-standing India-Russia partnership, discussing cooperation in the financial sector and matters related to the New Development Bank (NDB). Sitharaman underscored that India and Russia share “exemplary levels of mutual trust and understanding,” and that the Special and Privileged Strategic Partnership between the nations remains resilient and steadfast.

Union Minister of Finance and Corporate Affairs Smt. @nsitharaman met H.E. Mr. Anton Siluanov, Finance Minister of Russia, on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting #BRICSFMCBG, in Rio de Janeiro, today.

The two leaders discussed… pic.twitter.com/scS6ptHlPG

— Ministry of Finance (@FinMinIndia) July 5, 2025

During another bilateral discussion with Chinese Finance Minister Lan Fo’an, both sides emphasized their countries’ rich human capital, deep civilisational connections, and expanding global economic influence. The finance ministry noted that the two leaders recalled their previous meeting in Samarkand on the sidelines of the AIIB Annual Meetings in September 2024. Sitharaman stressed that India and China are uniquely positioned to lead inclusive global growth and innovation, given their status as the world's largest and fastest-growing economies. She proposed deeper bilateral engagement to amplify the voice of developing countries and shape global narratives that reflect the aspirations of the Global South.
In her meeting with Thomas Djiwandono, Vice Finance Minister of Indonesia, Sitharaman expressed appreciation for Indonesia’s solidarity after the Pahalgam attack. The discussion covered a wide range of topics including BRICS cooperation, the Unified Payments Interface (UPI) and RuPay systems, G20 initiatives, multilateral development bank (MDB) reforms, tourism, FinTech, financial markets, and upcoming economic dialogues. Sitharaman also confirmed India’s intent to host the Indonesia Economic and Financial Dialogue soon.
In a separate meeting with Brazilian Finance Minister Fernando Haddad, Sitharaman discussed bilateral and multilateral issues including South-South cooperation, climate finance, the upcoming COP30 summit, and global governance through institutions such as the United Nations, WTO, G20, BRICS, and IBSA. She praised Brazil’s efforts and leadership during its BRICS Chairship, particularly its emphasis on a multipolar world order and expansion of the bloc. Reiterating India’s support for Brazil’s agenda, she said India looks forward to building on the momentum when it assumes BRICS Chairship in January 2026. She also acknowledged the strong and cordial ties between India and Brazil, highlighting ongoing cooperation across strategic sectors.

(Business Correspondent)