FM Sitharaman starts visit to Spain, Portugal, Brazil

New Delhi

Finance Minister Nirmala Sitharaman began her official visit to Spain, Portugal, and Brazil on Monday, which will continue until July 5. She is leading a delegation from the Department of Economic Affairs to highlight India’s economic growth and strong global position.

In Seville, Spain, Sitharaman will attend the fourth International Conference on Financing for Development (FFD4), organized by the United Nations. She will deliver a statement on behalf of India and also give a keynote speech at the International Business Forum Leadership Summit on using private capital for sustainable growth. She is set to meet ministers from Germany, Peru, New Zealand, and the European Investment Bank President Nadia Calvino during her visit.

In Lisbon, Portugal, she will meet with Finance Minister Joaquim Miranda Sarmento. She will also interact with key investors and the Indian community, showcasing India’s economic progress and inviting investment.

In Rio de Janeiro, Brazil, Sitharaman will address the 10th Annual Meeting of the New Development Bank (NDB) as India’s Governor and join the BRICS Finance Ministers and Central Bank Governors Meeting. She will also speak at the NDB Governors' Seminar focused on building a strong multilateral bank for developing nations. Bilateral meetings with finance ministers from Brazil, China, Indonesia, and Russia are also scheduled.

This visit comes as India’s economy is expected to grow by 6.5% in the current fiscal year, supported by strong domestic demand, a normal monsoon, and lower crude oil prices. According to S&P Global Ratings, India’s steady growth reflects its resilience and strong economic fundamentals.

Sitharaman’s trip aims to strengthen economic ties and showcase India as a rising global economic power.