FM Sitharaman: BRICS Must Be a Stronger Platform for the Global South

Union Finance and Corporate Affairs Minister Nirmala Sitharaman, speaking at the BRICS Finance Ministers and Central Bank Governors Meeting in Rio de Janeiro on Monday, highlighted the crucial role of BRICS in advocating for the interests of the Global South.

Emphasizing India’s economic resilience, Sitharaman attributed the country’s strong performance to solid domestic demand, prudent macroeconomic policies, and well-targeted fiscal strategies. She also pointed out that India’s response to global trade and financial challenges has centered on diversifying markets, promoting infrastructure-driven growth, and implementing structural reforms to boost competitiveness and productivity.

Describing BRICS as a key platform for fostering inclusive multilateralism, the Finance Minister stressed that, amid growing concerns over the legitimacy and representation of global institutions, BRICS must set an example by strengthening cooperation, advocating meaningful reforms, and elevating the voice of the Global South.

Sitharaman emphasized that although South-South cooperation is essential for meeting climate and development objectives, the Global South should not be expected to shoulder the main responsibility for climate action. She called for stronger collaboration among BRICS countries to advance sustainable development.