New Delhi [India]: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman participated via virtual mode in the second BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the BRICS China chairmanship on Monday.
The meeting agenda included discussions on the outcomes of the BRICS Financial Cooperation agenda for 2022. This included a discussion on BRICS Joint Finance Ministers and Central Bank Governors Statement, Infrastructure Investments, New Development Bank and BRICS Think Tank Network for Finance.
Sitharaman observed that BRICS should continue to serve as a platform to engage in dialogues and facilitate exchange of experiences, concerns, and ideas to rebuild a sustainable and inclusive growth trajectory.
Speaking on India’s growth outlook, the Finance Minister shared that India’s economic growth will continue to be supported by fiscal spending and an investment push, imparting momentum to the economy based on the idea of growth at a macro level complemented by all-inclusive welfare at micro level.
The BRICS Finance Ministers and Central Bank Governors also discussed other legacy BRICS Finance issues such as Infrastructure investment, New Development Bank (NDB), BRICS Contingent Reserve Arrangement (CRA) etc.
Last month, External Affairs Minister, Dr. S. Jaishankar, participated in the BRICS Ministers of Foreign Affairs/International Relations meeting through video conferencing.
According to the Ministry of External Affairs (MEA), the meeting was chaired by the Minister of Foreign Affairs of the People’s Republic of China, Wang Yi under the BRICS rotating Presidency.
The Minister of Foreign Affairs of the Federative Republic of Brazil, Amb. Carlos Alberto Franco Franca, Minister of Foreign Affairs of the Russian Federation, Amb. Sergey Lavrov and the Minister of International Relations and Cooperation of the Republic of South Africa, Grace Naledi Mandisa Pandor, led their respective delegations.
The Ministers had exchanged views on furthering intra-BRICS cooperation on the three pillars of political and security, economic and finance, and people-to-people and cultural exchanges. In this regard, they recalled the adoption in 2021 of the revised Terms of Reference for guiding BRICS engagement. (ANI)