FM Sitharaman, Iranian counterpart discuss deeper economic cooperation

Union Finance Minister Nirmala Sitharaman on Sunday met Iranian counterpart Dr Seyed Ali Madanizadeh here and discussed issues related to economic cooperation in areas of mutual interest.

According to the Finance Ministry, FM Sitharaman thanked Iran for its active participation in the BRICS Summit and productive engagement in deliberations under the Finance Track.

The two sides exchanged views on ways to further strengthen economic cooperation between the two countries, the ministry said in a post on X.

Earlier in September, the Finance Minister had met Asian Infrastructure Investment Bank (AIIB) President Zou Jiayi and discussed opportunities to deepen the India-AIIB partnership.

The discussions included supporting India's infrastructure and transport connectivity priorities, enhancing local-currency financing, increasing private-sector participation and expanding the global presence of AIIB, according to the Finance Ministry.

FM Sitharaman had also met Russian First Deputy Prime Minister Denis Manturov, with the two sides discussing ways to strengthen bilateral economic cooperation.

It was agreed to advance negotiations on a Bilateral Investment Treaty (BIT) to establish a mutually beneficial framework for enhancing investment flows and economic engagement. The two sides also discussed opportunities to strengthen cooperation in the financial services sector.

Apart from that, FM Sitharaman held discussions with Russia's First Deputy Prime Minister Denis Manturov in the last week to advance negotiations on a Bilateral Investment Treaty (BIT) and explore deeper cooperation in financial services as the two countries seek to strengthen economic engagement and achieve ambitious trade and investment targets.

Meanwhile, Prime Minister Narendra Modi on Saturday announced the unanimous adoption of the New Delhi Declaration 2026 at the 18th BRICS Summit in the national capital. In his closing remarks, Modi said the declaration gives clear direction to the shared resolve of BRICS members and called for translating the agreed resolutions into concrete results.

He described the discussions among BRICS leaders as meaningful and constructive, saying the changing world order cannot be managed by old institutions.

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