ENA Economy 2025-07-08 16:03:51 <p><span style="font-size:14px"><strong>New Delhi, July 8 (KNN)</strong> Finance Minister Nirmala Sitharaman on Monday outlined Indias strategic response to rising trade and financial restrictions, emphasising market diversification, infrastructure-led growth, and structural reforms to enhance productivity and competitiveness.</span></p> <p><span style="font-size:14px">Speaking at the BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting in Rio de Janeiro, Sitharaman noted that Indias economic resilience was driven by robust domestic demand, sound macroeconomic management, and targeted fiscal measures. </span></p> <p><span style="font-size:14px">The event was held under Brazils presidency of BRICS and focused on global economic challenges and institutional reforms.</span></p> <p><span style="font-size:14px">India has demonstrated resilience through a combination of strong domestic demand, prudent macroeconomic management, and targeted fiscal measures, Sitharaman said, according to a post by the Ministry of Finance on X.</span></p> <p><span style="font-size:14px">Sitharaman highlighted Indias push for structural reforms and market diversification as key to mitigating external vulnerabilities and reinforcing its position as a growth engine in the Global South.</span></p> <p><span style="font-size:14px">Underscoring the importance of BRICS as a platform for inclusive multilateralism, Sitharaman called on member nations to spearhead credible reforms in international financial institutions. </span></p> <p><span style="font-size:14px">BRICS must amplify the voice of the Global South, especially when global institutions are facing legitimacy and representation challenges, she said.</span></p> <p><span style="font-size:14px">On climate action, the minister emphasised that the burden of achieving global sustainability goals should not fall disproportionately on the Global South. </span></p> <p><span style="font-size:14px">She advocated for balanced commitments and reinforced the role of BRICS in fostering South South cooperation on sustainable development. BRICS countries are well placed to deepen cooperation on sustainable development, she noted.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42731 https://knnindia.co.in/news/newsdetails/economy/india-highlights-market-diversification-structural-reforms-amid-global-shifts-fm-sitharaman-at-brics 2025-07-08 16:03:51 knnindia.co.in