Finance Minister Nirmala Sitharaman on Official Visit to Spain, Portugal, and Brazil for Strategic Multilateral Engagements

On Monday, Union Finance and Corporate Affairs Minister Nirmala Sitharaman commenced an official six-day trip to Spain, Portugal, and Brazil.

Heading a delegation from the Department of Economic Affairs, Ministry of Finance, Sitharaman will take part in several high-level multilateral and bilateral meetings during her visit from June 30 to July 5, according to a statement from the Ministry of Finance.

While in Seville, Spain, the Finance Minister will represent India at the 4th International Conference on Financing for Development (FFD4), hosted by the United Nations. She is expected to present India’s national statement, emphasizing the country’s dedication to sustainable development and inclusive growth.

Additionally, Sitharaman will deliver the keynote speech at the International Business Forum Leadership Summit, which focuses on “From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development.” During her time in Spain, she will also hold bilateral talks with senior ministers from Germany, Peru, and New Zealand, along with discussions with the President of the European Investment Bank (EIB).

After her activities in Spain, the Finance Minister will proceed to Lisbon, Portugal, where she is scheduled to hold bilateral talks with her Portuguese counterpart. She will also meet with leading investors and members of the Indian diaspora to strengthen economic and cultural relations between India and Portugal.

The final stop on her trip will be Rio de Janeiro, Brazil, where Sitharaman will represent India at the 10th Annual Meeting of the New Development Bank (NDB), serving in her capacity as India’s Governor. She will also participate in the inaugural BRICS Finance Ministers and Central Bank Governors Meeting (FMCBG), highlighting India’s proactive role in steering the BRICS economic agenda.

During the NDB’s flagship event, the Finance Minister will address the Governors Seminar on “Building a Premier Multilateral Development Bank for the Global South,” showcasing India’s vision for inclusive financial institutions. She is also set to conduct bilateral meetings on the sidelines with counterparts from Brazil, China, Indonesia, and Russia, concentrating on shared economic interests and multilateral collaboration.