Union Finance Minister Nirmala Sitharaman held a series of important bilateral meetings with representatives from Saudi Arabia, Switzerland, Jordan and Nepal during her visit to Doha. The meetings took place on the sidelines of the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, or AIIB, on September 28, 2026.
The discussions covered a wide range of economic issues, including bilateral investment, infrastructure financing, trade, food security, fertilisers, energy, water, reconstruction assistance and digital payments. The four meetings also highlighted the different areas in which India is seeking to strengthen economic cooperation with partner countries.
According to the Ministry of Finance, Sitharaman was in Qatar from September 27 to 29, 2026, leading an Indian delegation from the Ministry of Finance. She attended the AIIB annual meeting in her capacity as India's Governor to the bank. India is the second largest shareholder in AIIB.
India Saudi Arabia Investment Talks
One of the important meetings in Doha was between Sitharaman and Saudi Arabia's Finance Minister Mohammed Al Jadaan. The discussions focused primarily on strengthening investment relations between India and Saudi Arabia.
Sitharaman welcomed the successful conclusion of negotiations on the India Saudi Arabia Bilateral Investment Treaty. A Bilateral Investment Treaty is intended to provide a framework for investments between two countries and establish greater predictability for investors.
According to the Ministry of Finance, the Saudi finance minister expressed interest in attracting investments from India. The discussions therefore focused on creating conditions for greater investment flows between the two economies.
The conclusion of negotiations on the investment treaty is significant because both India and Saudi Arabia have been seeking to expand their economic relationship beyond traditional areas of trade. Investment cooperation can cover sectors such as infrastructure, energy, manufacturing and other areas of economic activity, subject to the applicable agreements and regulations.
Switzerland Focuses On Investment Opportunities
Sitharaman also held a separate meeting with Switzerland's AIIB Governor and Ambassador Pietro Lazzeri. The discussion focused on investment opportunities in India, particularly in the infrastructure sector.
During the meeting, Sitharaman highlighted the National Investment and Infrastructure Fund, or NIIF, as a platform through which foreign investors can explore opportunities in India's infrastructure sector.
The NIIF was established as an investment platform to attract capital into infrastructure and related sectors in India. Highlighting the fund during the meeting reflects India's efforts to connect international investors with infrastructure investment opportunities.
According to the Ministry of Finance, Lazzeri said Switzerland sees significant opportunities in India for portfolio diversification and investment. He also noted that Swiss foreign direct investment growth in India was outpacing global FDI and sought India's support for finalising the Bilateral Investment Protection Agreement.
The discussions therefore covered both investment opportunities and the institutional framework required to protect and facilitate investments between the two countries.
India Jordan Trade Target
Jordan was another important part of Sitharaman's Doha engagements. She met Jordan's Minister of Planning and International Cooperation Zeina Zeid Toukan.
The two sides discussed food security, fertilisers, trade and investment. These areas are significant to the economic relationship because India and Jordan have established commercial links in several sectors.
During the meeting, Sitharaman noted that India is Jordan's fourth largest trading partner. She also highlighted the target of increasing bilateral trade between the two countries to USD 5 billion by 2030.
Jordan, according to the Ministry of Finance, expressed interest in strengthening cooperation with India in several sectors. These included fertilisers, energy, water and infrastructure projects. Jordan also indicated interest in expanding investment opportunities.
The discussions suggest that both countries are looking at opportunities to broaden their economic relationship across multiple sectors rather than concentrating only on existing trade areas.
Nepal Flood Recovery And Digital Payments
Sitharaman's fourth bilateral engagement was with Nepal Finance Minister Swarnim Wagle. The meeting had a different focus from the investment discussions with Saudi Arabia and Switzerland.
The two ministers discussed Nepal's reconstruction and recovery priorities following floods. India and Nepal also reviewed progress on projects that had been discussed during an earlier meeting in New Delhi.
According to the Ministry of Finance, the two sides discussed continued engagement to work out details of possible Indian support for Nepal's recovery efforts.
The meeting also covered the early operationalisation and utilisation of the UPI NPI linkage. UPI is India's Unified Payments Interface, while NPI refers to Nepal's National Payments Interface. The linkage is intended to improve digital payments connectivity between the two countries.
Digital payment connectivity can make cross border transactions more convenient for individuals and businesses and represents another area of economic cooperation between India and Nepal.
Doha Visit And AIIB Meeting
The bilateral meetings were held alongside the AIIB annual meeting in Doha. The annual meeting brought together representatives from member countries and other stakeholders to discuss infrastructure financing and sustainable economic development.
The Finance Ministry had said before the visit that Sitharaman would participate in the 11th Annual Meeting of the AIIB Board of Governors on September 28. She was also scheduled to meet the AIIB President and finance counterparts from Jordan, Switzerland, Algeria, Saudi Arabia and Nepal.
The minister was also expected to engage with the Qatari government, business leaders and investors during the visit.
India's Role In AIIB
India's participation in the Doha meeting is significant because it is the second largest shareholder of the Asian Infrastructure Investment Bank. The institution focuses on financing sustainable infrastructure and supporting investment in infrastructure and other productive sectors across Asia.
For India, AIIB provides another multilateral platform for discussions around infrastructure financing, regional connectivity and sustainable development.
Sitharaman's bilateral meetings therefore took place against a broader backdrop of discussions on infrastructure, investment and economic cooperation. The separate meetings allowed India to address specific bilateral priorities with individual countries while participating in the wider AIIB agenda.
Different Priorities Across Four Meetings
The four meetings covered distinct economic priorities.
With Saudi Arabia, the focus was on investment relations and the Bilateral Investment Treaty.
With Switzerland, discussions centred on investment opportunities in India, infrastructure financing and the Bilateral Investment Protection Agreement.
With Jordan, the agenda included food security, fertilisers, trade and investment, along with the goal of increasing bilateral trade to USD 5 billion by 2030.
With Nepal, the focus was on flood recovery, reconstruction and the UPI NPI digital payments connection.
Taken together, the meetings show the range of economic issues being discussed by India with different international partners. The subjects extended from investment protection and infrastructure financing to trade, energy, food security, reconstruction and digital payments.
Investment And Economic Cooperation
The discussions also come at a time when India is seeking to expand investment and economic partnerships with countries across different regions. Investment treaties can provide frameworks governing investments, while infrastructure investment platforms can help connect international capital with projects.
The Saudi Arabia and Switzerland discussions particularly highlighted the role of investment frameworks. Meanwhile, the Jordan meeting focused more directly on expanding trade and cooperation in sectors such as fertilisers, energy, water and infrastructure.
The Nepal meeting demonstrated another dimension of economic diplomacy, where reconstruction assistance and digital financial connectivity formed part of the bilateral agenda.
What Happens Next
The outcome of these meetings will depend on follow up actions by the respective governments and institutions. The conclusion of negotiations on the India Saudi Arabia Bilateral Investment Treaty, discussions on Switzerland's investment protection agreement, the Jordan trade target and Nepal's digital payments linkage will require further engagement between the relevant authorities.
No single agreement covering all four countries emerged from the meetings. Instead, each discussion addressed specific areas of bilateral economic cooperation.
Sitharaman's Doha engagements have consequently placed investment, trade, infrastructure and financial connectivity at the centre of India's economic discussions with partner countries.
As the AIIB moves through its annual meeting, India's participation also provides an opportunity to discuss broader infrastructure financing and investment issues. The bilateral meetings with Saudi Arabia, Switzerland, Jordan and Nepal add a separate country specific dimension to those multilateral discussions.
The meetings underline the breadth of India's current economic engagement, ranging from attracting international investment and strengthening trade ties to supporting reconstruction and expanding digital payment connectivity with neighbouring countries.
