India’s External Affairs Minister S Jaishankar conducted bilateral meetings with multiple foreign leaders during the BRICS Foreign Ministers’ Meeting, while ministers issued a joint statement on global challenges and BRICS cooperation.
The former Brazilian president proclaimed that the BRICS bank must develop a new strategy to maintain the development course over the next five years.
At a session marking BRICS’ 20th anniversary, Russia’s foreign minister proposed a new investment platform to fund development projects, including via digital assets, with a potential role for the New Development Bank.
India urged BRICS to champion sweeping reforms, calling global institutional overhaul ‘not a matter of choice, but of necessity.’ Seeking a ‘more representative’ UN Security Council and fairer financial systems, India warned that ‘reform is overdue’ to address modern challenges like supply chain fragility and energy insecurity.
India’s MEA said BRICS foreign ministers reached broad consensus across key agenda areas, issuing a 63-paragraph outcome document ahead of the summit later this year.
At the NDB annual governors’ meeting in Moscow, the bank outlined priorities for local-currency financing, digital financial tools, sustainable infrastructure, and broader Global South cooperation.
At a meeting marking BRICS’ 20th anniversary, member states issued a wide-ranging statement on Gaza, terrorism, global trade pressures, UN reform, AI governance, climate cooperation, and the next BRICS summit.
Representatives from BRICS countries toured India’s GIFT City to review IFSC capabilities and discuss cross-border finance and cooperation during India’s 2026 BRICS Chairship.
Seminar in Moscow highlights support for sustainable development priorities
