India's Support for BRICS

Finance Minister Nirmala Sitharaman reiterated India's backing of BRICS, consisting of Brazil, Russia, India, China, and South Africa, as a crucial platform for advancing inclusive multilateralism amidst challenges faced by global institutions. Speaking at the BRICS finance ministers and central bank governors meeting in Rio de Janeiro, Sitharaman stressed the importance of cooperation, credible reforms, and amplifying the voice of the global South within the group.

Trade and Financial Policies

Reflecting on the current trade environment where tariffs are used as tools for promoting free and fair trade, Sitharaman mentioned India's response focusing on diversifying markets, infrastructure-led growth, and structural reforms to enhance competitiveness and productivity. She highlighted India's resilience through strong domestic demand, prudent macroeconomic management, and targeted fiscal measures.

Climate Action and Sustainable Development

Sitharaman emphasized the role of South-South cooperation in advancing climate and development goals while urging BRICS countries to deepen cooperation on sustainable development. Regarding global climate action burdens, she highlighted the need for equitable sharing of responsibilities, with BRICS well-placed to enhance cooperation in this area.

Global Alliances and Challenges

Meeting with finance ministers from various countries, Sitharaman reiterated the resolve to maintain BRICS as a grouping representing the voice of the global South. These statements come at a time when US President Donald Trump has issued warnings against countries aligning with BRICS policies that go against US interests, threatening additional tariffs.