Finance Minister Nirmala Sitharaman described Saudi Arabia as India’s trusted and valued strategic partner, highlighting the wide-ranging ties between the two countries across defence, security, trade, investment, energy, technology, healthcare, education, culture and people-to-people exchanges.
Sitharaman met Saudi Finance Minister Mohammed Aljadaan on the sidelines of the AIIB 2026 Annual Meeting. Aljadaan congratulated Sitharaman on India’s strong economic performance and improving investment climate and shared his views on the Saudi economy.
The two ministers welcomed the successful conclusion of negotiations on the India-Saudi Arabia Bilateral Investment Treaty (BIT). The agreement will create a stronger and more predictable framework for bilateral investments and help strengthen investor confidence, according to the Finance Ministry.
Aljadaan said Saudi Arabia looks forward to implementing the agreement at the earliest.
Recalling Prime Minister Narendra Modi’s vision for the bilateral relationship during his state visit to Saudi Arabia, the ministers discussed ways to further strengthen the strategic partnership between the two countries.
Aljadaan also expressed Saudi Arabia’s interest in attracting investments from India.
During her meeting with Ambassador Pietro Lazzeri, AIIB Governor from Switzerland, Sitharaman highlighted the National Investment and Infrastructure Fund (NIIF) as a trusted partner for foreign investors seeking opportunities in India.
She pointed to NIIF’s governance and transparency standards and encouraged Swiss investors to explore its infrastructure funds for exposure to India’s infrastructure sector.
Lazzeri said Switzerland sees significant opportunities in India for portfolio diversification and investment. He also referred to the upcoming state visit to India and the second EFTA Prosperity Summit in New Delhi.
According to the Finance Ministry, Lazzeri noted that Swiss foreign direct investment (FDI) growth in India is outpacing global FDI and sought support for finalising the Bilateral Investment Protection Agreement.
He also expressed interest in greater cooperation in financial services and sustainable finance.
Sitharaman encouraged Swiss investors and financial services companies to explore opportunities at GIFT IFSC, India’s homegrown international financial services centre. She highlighted its range of financial services and products, tax benefits and business-friendly environment.
Sitharaman also met Nepal Finance Minister Swarnim Wagle. The ministers welcomed the opportunity to meet again and discussed follow-up actions from their earlier meeting in New Delhi.
Their discussions focused on Nepal’s assessment and priorities for reconstruction and recovery following the floods. Both sides emphasised continued engagement between their teams to determine the specific support India can provide during this critical period.
The ministers also reviewed progress on projects discussed during their New Delhi meeting and stressed the need for continued coordination. They also discussed the early operationalisation and wider use of the UPI-NPI linkage, which the Finance Ministry described as an initiative that could benefit both countries.