India, Russia agree to advance Bilateral Investment Treaty negotiations

Finance Minister Nirmala Sitharaman on Saturday met Asian Infrastructure Investment Bank (AIIB) President Zou Jiayi and discussed opportunities to further deepen cooperation between India and the multilateral development bank.

The discussions focused on supporting India’s infrastructure and transport connectivity priorities, expanding local-currency financing and encouraging greater private-sector participation. The two sides also discussed ways to strengthen AIIB’s global presence.

Zou Jiayi arrived in New Delhi to attend the 18th BRICS Summit 2026. The Ministry of External Affairs said her visit would help strengthen partnerships aimed at advancing sustainable development and expanding opportunities for emerging economies.

Sitharaman also held discussions with Russian First Deputy Prime Minister Denis Manturov on strengthening bilateral economic cooperation. India and Russia agreed to advance negotiations on a Bilateral Investment Treaty (BIT) to create a mutually beneficial framework for increasing investment flows and economic engagement. The two sides also discussed strengthening cooperation in financial services.

Meanwhile, Prime Minister Narendra Modi announced the unanimous adoption of the New Delhi Declaration 2026 at the 18th BRICS Summit in New Delhi. He said the declaration provided clear direction to the grouping’s shared resolve and stressed the need to translate its commitments into concrete outcomes.

Modi described the discussions among BRICS leaders as meaningful and constructive, covering key regional and global issues and ways to strengthen cooperation. He also said the changing world order could not be effectively managed through old institutions, underlining the need to strengthen multilateral frameworks