Saudi Arabia has asked India to bring their newly concluded bilateral investment treaty (BIT) into force at the earliest, while Switzerland has sought New Delhi’s help to finalise a similar one, the Finance Ministry said on Monday.
Finance Minister Nirmala Sitharaman discussed both issues in separate meetings in Doha, on the sidelines of the annual meeting of the Asian Infrastructure Investment Bank (AIIB).
The BIT “will provide a stronger and more predictable framework for bilateral investments and further strengthen investor confidence,” the Finance Ministry said in a post on X as Sitharaman met Saudi Finance Minister Mohammed Al-Jadaan.
Sitharaman is in Doha for the 11th annual meeting of the AIIB and the AIIB Investors Dialogue 2026. She is attending as India’s governor to the bank. India is its second-largest shareholder.
According to the post, Al-Jadaan said Saudi Arabia looks forward to the BIT’s early implementation. He also congratulated Sitharaman on India’s economic performance and expressed interest in welcoming investments from India.Sitharaman listed cooperation in defence, security, trade, energy, technology and healthcare with Saudi Arabia in focus.
Switzerland seeks BIT
Ambassador Pietro Lazzeri, Switzerland’s governor at the AIIB, told Sitharaman that his country sees significant opportunities in India for portfolio diversification. Swiss foreign direct investment (FDI) growth in India is “outpacing global FDI,” the Finance Ministry said in a second post on X.
Lazzeri also “sought support for finalisation of the Bilateral Investment Protection Agreement,” the post added. He referred to an upcoming state visit to India and the second European Free Trade Association (EFTA) Prosperity Summit in New Delh. He also expressed interest in cooperation in the financial sector and sustainable finance.
Sitharaman highlighted the National Investment and Infrastructure Fund, a government-backed vehicle for infrastructure investment. The fund is “a trusted partner for foreign investors seeking to access opportunities in India, with high standards of governance and transparency,” the ministry said. She asked Swiss investors to look at the fund’s infrastructure schemes.
She also asked Swiss financial services firms to explore GIFT City in Gujarat, which “offers financial services and products, tax benefits and a business-friendly environment,” according to the post.
Nepal flood recovery on the table
Sitharaman also held a pull-aside meeting with Nepal’s finance minister Swarnim Wagle. The two followed up on talks they had held earlier in New Delhi.
They discussed Nepal’s assessment and priorities for reconstruction after 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 ministry said in a third post on X.
The ministers also reviewed projects taken up during the New Delhi meeting. They discussed early operationalisation of the link between India’s Unified Payments Interface and Nepal’s payments network, which the post described as beneficial to both countries.
