Dikhyaa Mohanty 
India hosted a meeting of BRICS Finance Ministers and Central Bank Governors on a video conferencing due to the Covid-19 situation which was jointly chaired by Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta Das.
According to the report, this was the first meeting of the BRICS Finance Ministers and Central Bank Governors under India’s chairship in 2021. As BRICS chair, India’s approach is focused on strengthening intra-BRICS cooperation based on continuity, consolidation, and consensus.
The report further elaborates that during the meeting the BRICS Finance Ministers and Central Bank Governors discussed the financial cooperation agenda set by India for 2021 – the global economic outlook and response to Covid-19 pandemic, New Development Bank (NDB) activities, social infrastructure financing, and use of digital technologies, and cooperation on customs-related issues. They also discussed the IMF reforms, fintech for SMEs and financial inclusion, BRICS Rapid Information Security channel, and BRICS Bond Fund.
Pic Courtesy – Google
Finance Minister Nirmala Sitharaman stated that the efforts should be made towards delivering outcomes that reflect the needs and aspirations of BRICS in particular, and emerging markets and developing economies in general. Even there should be more importance of BRICS in responding to the Covid-19 crisis through policy support and enhancing international coordination. She also highlighted that world’s largest vaccine drive by India is underway. India has supplied 64.5 million vaccine doses to 84 countries.
She further talked about thematic priorities for the New Development Bank for discussion during 2021 and the issues of membership expansion and called for greater coordination among BRICS member countries on the issues of the 16th general review of Quotas of IMF.
image Source – Google
