Doha, September 29 (IANS). Union Finance Minister Nirmala Sitharaman on Tuesday said the Asian Infrastructure Investment Bank (AIIB) should not limit itself to traditional physical infrastructure projects in India but should also consider expanding the scope of financing to emerging sectors such as Artificial Intelligence (AI), Micro, Small and Medium Enterprises (MSME) and skilling.
In a meeting with AIIB President Zhou Jiayi during the AIIB 2026 Annual Meeting held in Doha, the capital of Qatar, the Finance Minister said that MSMEs are the backbone of India's economy. If they are supported to adopt AI-based technologies and upskill the workforce, their productivity and competitiveness can improve significantly.
During the meeting, the AIIB President congratulated the Finance Minister for the successfully held BRICS Leaders' Summit in New Delhi. Sitharaman also praised AIIB's strong performance in the first half of this year and reiterated India's support for the Bank's 2027 budget plans and operational expansion priorities.
The two leaders also discussed AIIB's strong pipeline of projects in India and further broadening the Bank's global presence. Referring to his recent visit to project sites in Delhi and Meerut, the AIIB President said the Bank will continue to finance people-oriented projects, urban development and initiatives related to environmental protection in the future.
The Finance Minister emphasized that the regional focus of the AIIB should remain an important part of its institutional identity and a key pillar of the Bank's core mandate.
Earlier, Sitharaman also met Saudi Arabia's Finance Minister Mohammed Aljadan. He said that Saudi Arabia is a reliable and important strategic partner of India and cooperation between the two countries is continuously strengthening in many areas including defence, security, trade, investment, energy, technology, health, education, culture and people-to-people ties.
During the meeting, both leaders welcomed the successful conclusion of negotiations on the India-Saudi Arabia Bilateral Investment Treaty (BIT). He says that this agreement will provide a more clear and reliable framework to the investors of both the countries and will further strengthen the confidence of the investors.
The Finance Minister, in a meeting with AIIB Governor Pietro Lazzeri from Switzerland, described the National Investment and Infrastructure Fund (NIIF) as a credible platform for foreign investors to access opportunities in India. He said NIIF operates with transparency and high governance standards and Swiss investors can use its funds to increase participation in India's infrastructure sector.
–IANS
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