BRICS Rio: Sitharaman’s Call for Inclusive Multilateralism Resonates Globally

Image Source: ET Edge Insights

During the BRICS Finance Ministers and Central Bank Governors Meeting in Rio de Janeiro, Union Finance Minister Nirmala Sitharaman put the world spotlight on India's economic resilience that made the country a pillar of stability in the face of universal uncertainty. Her comments highlighted India's wise policy steps and increasing role in shaping inclusive multilateralism.

Major Highlights of the Speech

India's good performance was the outcome of strong domestic demand, prudent macroeconomic management, and selective fiscal measures
Sitharaman emphasized infrastructureled growth, market diversification, and structural reforms as competitiveness drivers
She called upon BRICS to speak for the Global South and advocate for good reforms in world institutions

Strategic Themes and Policy Direction

India's response to global financial and trade sanctions has been oriented toward export market diversification and eroding reliance on traditional partners
The Finance Minister urged increased BRICS cooperation on climate and sustainable development objectives
She emphasized that the Global South should not be disproportionately burdened with climate action and demanded equal responsibility

Multilateral Relations and Bilateral Negotiations

Sitharaman had bilateral meetings with Russian, Chinese, Brazilian, and Indonesian counterparts and exchanged views on cooperation in the financial sector and New Development Bank priorities
She referred to India and China's ability to fuel inclusive global growth, referencing their accelerating economic momentum and human capital in abundance

Outlook and Global Positioning

India's leadership in the BRICS group will grow further with support of its 2026 Chairship and hosting of COP33
The summit reaffirmed India's commitment to remaking world order and fostering SouthSouth cooperation

Sources: DD India, Economic Times, 5 Dariya News.