This was the first meeting of the BRICS Finance Ministers and Central Bank Governors under India’s Chairmanship in 2021.
The meeting was jointly chaired by Union Minister for Finance & Corporate Affairs Nirmala Sitharaman and RBI Governor Shaktikanta Das.
All the Finance Ministers and Central Bank Governors of the BRICS countries participated in the virtual meeting.
As 2021 BRICS Chair, India’s approach is focused on strengthening intra-BRICS cooperation based on Continuity, Consolidation and Consensus.
BRICS Finance Ministers and Central Bank Governors discussed financial cooperation agenda set by India for 2021 - Global Economic Outlook and Response to COVID-19 pandemic, New Development Bank (NDB) Activities, Social Infrastructure Financing and Use of Digital Technologies, Cooperation on Customs related issues, IMF reforms, Fintech for SMEs and Financial Inclusion, BRICS Rapid Information Security channel and BRICS Bond Fund.
On the BRICS priorities and agenda for 2021, Finance Minister Sitharaman informed that the efforts should be made towards delivering outcomes that reflects the needs and aspirations of BRICS in particular and emerging markets and developing economies in general.
The Finance Minister emphasised the importance of BRICS in responding to the COVID-19 crisis through policy support and enhancing international co-ordination.
Sitharaman highlighted that world’s largest vaccine drive by India is under way. India has supplied 64.5 million vaccine doses to 84 countries, she said.