Doha, Sep 29 (IANS) : Finance Minister Nirmala Sitharaman has conveyed that Saudi Arabia is India’s trusted and valued strategic partner, highlighting the wide-ranging partnership between the two countries across defence, security, trade, investment, energy, technology, healthcare, education, culture and people-to-people exchanges.
She met Mohammed Aljadaan, Minister of Finance, Kingdom of Saudi Arabia, on the sidelines of the ‘AIIB 2026 Annual Meeting’ here, who congratulated the Union Finance Minister on India’s robust economic performance and improving investment climate, and shared his perspective on the Saudi economy.
Both the Ministers welcomed the successful conclusion of negotiations on the India-Saudi Arabia Bilateral Investment Treaty (BIT), which will provide a stronger and more predictable framework for bilateral investments and further strengthen investor confidence, according to Finance Ministry.
Aljadaan said that Saudi Arabia looks forward to its early implementation.
Recalling the Prime Minister Narendra Modi’s vision expressed during his state visit to Saudi Arabia, both the Ministers discussed further strengthening the strategic partnership between the two countries.
Aljadaan expressed keen interest in welcoming investments from India.
In her meeting with Ambassador Pietro Lazzeri, AIIB Governor from Switzerland, she highlighted the National Investment and Infrastructure Fund as a trusted partner for foreign investors seeking to access opportunities in India, with high standards of governance and transparency; and Swiss investors could explore NIIF infrastructure funds to gain exposure to India’s infrastructure sector.
Ambassador Lazzeri said that Switzerland sees significant opportunities in India for portfolio diversification and investment. He mentioned the upcoming State Visit to India and the 2nd EFTA Prosperity Summit in New Delhi. He said Swiss Foreign Direct Investment (FDI) growth in India is outpacing global FDI and sought support for finalisation of the Bilateral Investment Protection Agreement.
Lazzeri also expressed interest in cooperation in the financial sector and sustainable finance, said Finance Ministry.
FM Sitharaman encouraged Swiss investors and financial services entities to explore investment opportunities in India’s homegrown financial services centre in GIFT IFSC, which offers financial services and products, tax benefits and a business-friendly environment.
She also met Nepal Finance Minister Swarnim Wagle. Both the Ministers were pleased to meet again and noted the opportunity to follow up on the discussions held during their meeting in New Delhi.
The discussions covered Nepal’s assessment and priorities for reconstruction and recovery following the floods, with emphasis on continued engagement between the teams to work out the specifics of any support that India can provide at this critical time.
The Ministers also discussed the progress of projects taken up during the New Delhi meeting and emphasised the need for continued engagement. The early operationalisation and utilisation of the UPI-NPI linkage was also discussed as an initiative beneficial to both countries, said the statement.
