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Indian Finance Minister Nirmala Sitharaman conveyed to her Saudi counterpart that Saudi Arabia stands as a trusted and valued strategic partner, the Indian Finance Ministry said following their talks on the sidelines of the AIIB 2026 Annual Meeting in Doha. Sitharaman highlighted the broad partnership spanning defence, security, trade, investment, energy, technology, healthcare, education, culture and people-to-people ties. Saudi Finance Minister Mohammed Aljadaan congratulated Sitharaman on India’s strong economic performance and improving investment climate while sharing insights into the Saudi economy, according to the ministry.
The two ministers welcomed the successful conclusion of negotiations on the India-Saudi Arabia Bilateral Investment Treaty, the Finance Ministry reported. The agreement is expected to establish a stronger and more predictable framework for bilateral investments while bolstering investor confidence. Aljadaan expressed hope for its early implementation, the ministry added.
Discussions also focused on further strengthening the strategic partnership by building on Prime Minister Narendra Modi’s vision from his state visit to Saudi Arabia, the Finance Ministry stated. Aljadaan voiced keen interest in welcoming greater Indian investments into the kingdom. The meeting reflects ongoing high-level coordination between the two sides on economic and strategic matters.
The partnership between India and Saudi Arabia was elevated through the establishment of a Strategic Partnership Council in 2019, according to the Indian Ministry of External Affairs. India’s Department of Commerce data places bilateral trade at 41.88 billion dollars in fiscal 2024-25, with the kingdom serving as one of India’s top five trading partners. Recent developments include agreements on joint refineries in India and cooperation in health, space and sports stemming from Modi’s 2025 visit.
Sitharaman’s engagement with Aljadaan formed part of her broader participation in the Asian Infrastructure Investment Bank gathering. In a separate meeting, she held talks with Pietro Lazzeri, the AIIB governor for Switzerland, the Finance Ministry said. Sitharaman positioned the National Investment and Infrastructure Fund as a reliable vehicle for foreign investors seeking exposure to India’s infrastructure sector, citing its governance standards.
She encouraged Swiss investors to consider opportunities through NIIF’s infrastructure funds, according to the ministry’s account. The outreach aligns with India’s push to attract quality foreign capital into key development areas. Such engagements at multilateral forums help advance bilateral economic ties with multiple partners simultaneously.
