Asheville [US], September 2 : Union Minister for Finance and Corporate Affairs Nirmala Sitharaman held separate meetings with Russian and South Korean delegations on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, in Asheville, where she held discussions on strengthening cooperation.
The details were shared by the Ministry of Finance in a series of posts on X.
Sitharaman met Anton Siluanov, Finance Minister of Russia, on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, in Asheville, yesterday.
The two sides exchanged views on strengthening bilateral cooperation, regional and global economic developments, and issues of shared interest in the multilateral sphere.
They discussed cooperation in the New Development Bank and the Asian Infrastructure Investment Bank, and explored areas of mutual interest for strengthening both institutions as effective multilateral development banks.
Notably, they also discussed the establishment of the Shanghai Cooperation Organisation Development Bank.
https://x.com/FinMinIndia/status/2094878567234494824?s=20
Union Minister Sitharaman also met Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, South Korea, on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, in Asheville, yesterday.
Sharing the details of the meeting in a post on X, the Ministry of Finance said, "The Union Finance Minister acknowledged that India considers the Republic of Korea a very important economic partner, and the relationship has been mutually beneficial across several dimensions. The two Ministers discussed strengthening bilateral economic and financial cooperation, including taking forward the India-Korea Finance Ministers' Meeting through early working-level consultations."
The Finance Minister noted that India and South Korea have enjoyed a Special Strategic Partnership since 2015, and this relationship has been further strengthened this year through the Joint Strategic Vision for 2026-2030 announced during President Lee's State Visit to India in April 2026.
The Union Finance Minister said that India looks forward to strengthening India-Korea cooperation even further, including in emerging and strategic areas such as critical minerals and resilient supply chains, and remains committed to fostering this partnership for the mutual benefit of our people and industry.
Sitharaman welcomed greater investment from South Korea in emerging sectors and suggested that Indian companies will further explore investment opportunities in the Republic of Korea, with a view to promoting mutually beneficial investment flows.
The Union Finance Minister also suggested strengthening investment cooperation through NIIF and advancing the proposed concessional credit line under Korea's Economic Development Cooperation Fund (EDCF) framework for infrastructure and green-transition investments in India.
The two Ministers also discussed ongoing efforts towards interoperability of India and Korea's QR-based payment systems, which would facilitate greater ease of payments and strengthen economic and people-to-people linkages between the two countries, the Ministry of Finance said.
Mentioning India's growth potential and the sheer scale of the Indian economy, Koo Yun-cheol said that both countries should further develop stronger bilateral cooperation, which would further enhance trade and investments for both sides.
https://x.com/FinMinIndia/status/2094879868488126620?s=20
Sitharaman met several key international partners on the sidelines of the G20 Finance Ministers' meet in the US.
She met Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), where the two leaders discussed the global economic outlook and India's evolving growth trajectory.
Sitharaman also held high-level bilateral meetings with World Bank Group President Ajay Banga and European Commission Commissioner for Economy and Financial Affairs Valdis Dombrovskis.