BRICS economies represent major growth engines of the global economy

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman delivered the Keynote Address at the Seminar on “The Role of the New Development Bank in Mobilising Private Capital in Member Countries”, on the sidelines of the BRICS Finance Minsters’ and Central Bank Governors (FMCBG) Meeting, being held in Jaipur, today.

Ms. Dilma Rousseff delivered a special address, with participation of Ms. Anuradha Thakur, Secretary, D/o Economic Affairs (DEA), Ministry of Finance; and Vijay Sankar, Senior Vice President, FICCI.

Speaking of India’s experience, Smt. Sitharaman said that Government of India has strengthened its infrastructure ecosystem through sustained public capital expenditure and complementary structural reforms. Public investment has expanded significantly compared to a decade ago, reflecting a deliberate strategy to create productive national assets across highways, railways, ports, logistics systems, digital infrastructure, and energy networks, She said.

In her welcome address earlier, Secretary, D/o Economic Affairs, Smt. Anuradha Thakur stated that the seminar being today is particularly relevant as development finance moves into a phase where scale must be matched with resilience.

The seminar brought together senior policymakers, multilateral institutions and private-sector leaders, and was followed by a deep-dive panel discussion by IRDAI Chairman Ajay Seth; NDB Vice-President Roman Serov; Mr. Alessandro Teixeira from the Sertrading; Tencent Senior Advisor Yongping Zhai; Pankaj Sindwani from the Tata Capital Decarbonisation Fund; and along with other representatives from BRICS countries, financial institutions, think tanks and academia.(updated on 12th August 2026)