https://sputniknews.in/20260310/brics-bank-india-hold-talks-on-rupee-bonds-local-currency-financing-10594247.html
BRICS Bank, India Hold Talks on Rupee Bonds, Local Currency Financing
BRICS Bank, India Hold Talks on Rupee Bonds, Local Currency Financing
Sputnik India
India's Finance Minister Nirmala Sitharaman held talks with Dilma Rousseff, the President of New Development Bank (NDB), in New Delhi on Tuesday, according to an official statement.
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BRICS Bank President Dilma Rousseff and Indian Finance Minister Nirmala Sitharaman discussed the launch of an Indian Rupee bond programme to mobilise around ₹250 billion ($3.01 billion) over five years and financing infrastructure in local currency as well as reducing foreign exchange risks during their meeting in the Indian capital city, NDB said in a statement.The two delegates also reaffirmed the strong partnership between India and the NDB to explore deeper cooperation in supporting Prime Minister Narendra Modi's Viksit Bharat 2047 Vision.Rousseff commended India’s vision of Viksit Bharat as a "cornerstone for emerging economies".Rousseff extended a formal invitation to Sitharaman to visit the bank's headquarters in Shanghai as well as attend the Annual Meeting in Moscow in May. The bank currently comprises 11 member nations - Brazil, Russia, India, China, South Africa, Bangladesh, UAE, Egypt, Algeria, Colombia and Uzbekistan.The BRICS Bank has committed around $10 billion in financing across 32 projects in India, including in big-ticket ventures such as the Delhi–Ghaziabad–Meerut Regional Rapid Transit System (RRTS) inaugurated by Prime Minister Modi last month.
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BRICS Bank, India Hold Talks on Rupee Bonds, Local Currency Financing
India's Finance Minister Nirmala Sitharaman held talks with Dilma Rousseff, the President of New Development Bank (NDB), in New Delhi on Tuesday, according to an official statement.
BRICS Bank President Dilma Rousseff and Indian Finance Minister Nirmala Sitharaman discussed the launch of an Indian Rupee bond programme to mobilise around ₹250 billion ($3.01 billion) over five years and financing infrastructure in local currency as well as reducing foreign exchange risks during their meeting in the Indian capital city, NDB said in a statement.
The two delegates also reaffirmed the strong partnership between India and the NDB to explore
deeper cooperation in supporting
Prime Minister Narendra Modi's Viksit Bharat 2047 Vision.
Rousseff commended India’s vision of Viksit Bharat as a "cornerstone for emerging economies".
"The meeting recognised India’s leadership in digital innovation, clean energy and healthcare, exploring how NDB can further support priorities via trade finance, equity participation, knowledge exchange and initiatives at the intersection of Artificial Intelligence (AI), digital infrastructure and climate action," the bank said.
Rousseff extended a formal invitation to Sitharaman to visit the bank's headquarters in Shanghai as well as attend the Annual Meeting in Moscow in May. The bank currently comprises 11 member nations - Brazil, Russia, India, China, South Africa, Bangladesh, UAE, Egypt, Algeria, Colombia and Uzbekistan.
The BRICS Bank has committed around $10 billion in financing across 32 projects in India, including in big-ticket ventures such as the Delhi–Ghaziabad–Meerut Regional Rapid Transit System (RRTS) inaugurated by Prime Minister Modi last month.
