Building Economic Bridges: India and Saudi Arabia Eye Enhanced Ties

Finance Minister Nirmala Sitharaman and Saudi Investment Minister Khalid Al Falih discussed strengthening India-Saudi Arabia economic ties, emphasizing early conclusion of the Bilateral Investment Treaty (BIT) for increased FDI. Concurrently, Sitharaman chaired pre-budget consultations with MSME stakeholders ahead of Union Budget 2026-27 preparations.

In a significant move towards fortifying India-Saudi economic ties, Finance Minister Nirmala Sitharaman engaged in discussions with Saudi Arabia's Minister of Investment, Khalid Al Falih, aiming to expedite the Bilateral Investment Treaty (BIT). Both leaders underscored the importance of concluding the treaty swiftly to boost two-way foreign direct investment (FDI) and enhance mutual cooperation.

The meeting, as acknowledged in a Finance Ministry post, took place in New Delhi and sought to lay the groundwork for a more robust economic partnership between the two countries. Earlier, Sitharaman also led a pre-budget consultation with the Micro, Small and Medium Enterprises (MSME) sector, a critical stakeholder in the upcoming Union Budget 2026-27 formulation.

Attended by various senior officials, the pre-budget meeting addressed the challenges faced by the MSME sector and discussed strategies to foster its growth. This session marked the beginning of the Finance Ministry's annual pre-budget discussions, pivotal in shaping the final budget to be presented to the legislature.

(With inputs from agencies.)