The Finance Minister’s six-day visit to Spain, Portugal, and Brazil focuses on sustainable development, global financial reforms, and India’s role in multilateral institutions Source: PIB
Union Finance and Corporate Affairs Minister Nirmala Sitharaman has embarked on a high-level, six-day official visit to Spain, Portugal, and Brazil, leading a delegation from the Department of Economic Affairs. The visit, which runs from June 30 to July 5, includes a series of multilateral and bilateral meetings aimed at strengthening India’s global financial engagement.
In Seville, Spain, Sitharaman will represent India at the 4th International Conference on Financing for Development (FFD4), organised by the United Nations. She will deliver India’s national statement, reaffirming the country’s commitment to inclusive growth and sustainable development.
Sitharaman will also give the keynote address at the International Business Forum Leadership Summit, speaking on the theme: “From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development.” Her engagements in Spain include bilateral discussions with senior ministers from Germany, Peru, and New Zealand, and a key meeting with the President of the European Investment Bank (EIB).
From Spain, the Finance Minister will travel to Lisbon, Portugal, for bilateral meetings with her Portuguese counterpart and leading investors. She will also interact with the Indian diaspora, aiming to deepen both economic and cultural ties between the two nations.
The final leg of her trip will take her to Rio de Janeiro, Brazil, where she will attend the 10th Annual Meeting of the New Development Bank (NDB), serving in her capacity as India’s Governor to the NDB. She is also scheduled to participate in the first BRICS Finance Ministers and Central Bank Governors Meeting (FMCBG), underlining India’s active role in shaping the economic agenda of the BRICS bloc.
At the NDB’s flagship Governors Seminar, Sitharaman will speak on “Building a Premier Multilateral Development Bank for the Global South”, highlighting India’s vision for more inclusive and equitable financial institutions. She will also hold bilateral meetings with finance ministers from Brazil, China, Indonesia, and Russia, discussing key areas of mutual cooperation.
The visit is part of India’s broader strategy to engage deeply in global financial reforms and to advocate for the interests of the Global South, at a time when multilateral financial frameworks are undergoing rapid transformation.
