FM Sitharaman meets Putin’s deputy Manturov on BRICS sidelines, pushes for deeper economic ties
&imwidth=600&imheight=450&format=webp&quality=medium "FM Sitharaman meets Putin’s deputy Manturov on BRICS sidelines, pushes for deeper economic ties")
Union Finance Minister Nirmala Sitharaman meets First Deputy Prime Minister of the Russian Federation, Denis Manturov, in New Delhi on Friday. Photograph: (ANI)
Union Finance Minister Nirmala Sitharaman and First Deputy Prime Minister of the Russian Federation Denis Manturov agreed to advance Bilateral Investment Treaty talks and strengthen financial cooperation during their BRICS sidelines meeting in New Delhi.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Friday (Sept 11) held talks with Russian First Deputy Prime Minister Denis Manturov in New Delhi on the sidelines of the 18th BRICS Summit.
The meeting focused on ways to expand economic ties between India and Russia, with both sides discussing steps to deepen cooperation in key areas.
The two sides agreed to move ahead with negotiations on a Bilateral Investment Treaty (BIT) aimed at creating a mutually beneficial framework to boost investment flows and strengthen economic engagement.
“It was agreed to advance negotiations on a Bilateral Investment Treaty (BIT), with a view to establishing a mutually beneficial framework for enhancing investment flows and economic engagement,” the Ministry of Finance said in a post on X.
Sitharaman and Manturov also discussed opportunities to expand cooperation in the financial services sector, according to the ministry.
The talks come as investment and financial cooperation remain important parts of the economic relationship between the two countries.
Putin in Delhi for BRICS summit
Earlier, Russian President Vladimir Putin arrived in New Delhi ahead of the 18th BRICS Summit. He was received by Union Minister of State for External Affairs Kirti Vardhan Singh after his arrival.
Putin is scheduled to meet Prime Minister Narendra Modi on Friday for bilateral talks. The discussions are expected to cover strategic trade resilience, cross-border payment mechanisms, energy security and conflict resolution pathways linked to ongoing geopolitical tensions in Eastern Europe and West Asia.
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Putin will also visit the INNOPROM exhibition with Modi on Friday. The exhibition has been organised by the industry and trade ministries of Russia and India.
India is hosting the 18th BRICS Summit in New Delhi on September 12 and 13 under its 2026 BRICS Chairship. The chairship is guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability”, with development, sustainability and innovation among its key areas of focus.
BRICS has become an important platform for coordination among major emerging economies and for promoting the interests of the Global South in multilateral institutions. Its agenda includes development, finance, technology, trade and people to people exchanges.
The grouping currently has 11 members: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the UAE.
Together, BRICS members account for around 49.5 per cent of the global population, 40 per cent of global GDP and 26 per cent of global trade, according to background information on India's 2026 Chairship.
India's BRICS Chairship comes at a time of global economic fragmentation, technological disruption, geopolitical uncertainty, climate change and growing resource pressures.
