Boosting AIIB-Investment Ties: India and AIIB President Meet

Finance Minister Nirmala Sitharaman met with AIIB's new President, Zou Jiayi, to strengthen India-AIIB relations. They discussed increasing investments in member nations, especially low-income ones, and enhancing infrastructure development in India through AIIB's collaborative efforts.

Finance Minister Nirmala Sitharaman engaged in talks with the newly appointed President of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi, on Monday. The pivotal meeting focused on reinforcing the India-AIIB partnership, as revealed by the finance ministry on social media platform X.

Representing India, which holds the position of the second largest shareholder in AIIB at 8.5%, Sitharaman urged for escalation in investments within AIIB member countries. This includes prioritizing low-income nations by utilizing innovative financing and non-financing measures.

During their discussions, emphasis was placed on infrastructure-led growth under India's Union Budget with specific attention to early upstream services. Further, the dialogue touched upon AIIB's critical role in bolstering India's capital markets, expediting project approvals in Uttarakhand and Himachal Pradesh, and potential establishment of a regional office within India.

(With inputs from agencies.)