Bangkok, Oct 15: Union Finance Minister Nirmala Sitharaman held separate meetings with her Japanese, Swiss and UK counterparts on the sidelines of the World Bank-IMF Annual Meetings in Bangkok, discussing investment opportunities, financial cooperation, fintech and trade partnerships.

The discussions covered Japan’s proposed investment commitment in India, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), the proposed India-Switzerland Bilateral Investment Treaty (BIT) and the next India-UK Economic and Financial Dialogue (EFD), according to updates shared by the Finance Ministry.

During her meeting with Japanese Finance Minister Satsuki Katayama, Sitharaman welcomed Japan’s commitment to facilitate 10 trillion Japanese yen in private investment into India. The two ministers reviewed the India-Japan Strategic Global Partnership and discussed plans to mark the 75th anniversary of diplomatic relations in 2027 through high-level engagements.

Also read:Zelenskyy lifts "energy ceasefire", to resume strikes on Russian energy infrastructure

Sitharaman highlighted investments by the India-Japan Fund in clean energy, electric mobility, critical minerals and resilient supply chains. She also welcomed the Development Bank of Japan’s commitment to the National Investment and Infrastructure Fund’s (NIIF) private market fund and discussed opportunities for further co-investment in manufacturing and infrastructure.

The ministers also explored cooperation between the Reserve Bank of India and the Bank of Japan, including a formal fintech cooperation framework, central bank digital currency (CBDC) use cases and sharing India’s Unified Payments Interface (UPI) experience as Japan prepares to modernise its Zengin payment system in 2027.

Other areas of discussion included cybersecurity, artificial intelligence in financial services, pension sustainability and long-term care financing. Sitharaman invited Japanese financial institutions and universities to establish operations at Gujarat International Finance Tec-City’s International Financial Services Centre (GIFT IFSC).

In her meeting with Swiss Federal Councillor and Head of the Federal Department of Finance Karin Keller-Sutter, Sitharaman discussed the India-EFTA TEPA and the early conclusion of a mutually beneficial India-Switzerland Bilateral Investment Treaty.

She highlighted India’s macroeconomic fundamentals, including fiscal discipline, domestic demand and infrastructure modernisation, as opportunities for Swiss investors. The two sides also explored investment opportunities through NIIF and GIFT IFSC, alongside cooperation in cross-border digital payments, fintech, regulatory innovation and artificial intelligence in financial services.

Separately, Sitharaman met UK minister John Healey to discuss the outcomes of the fourth India-UK Financial Markets Dialogue, fintech meetings and associated India-UK Financial Partnership engagements. The discussions also covered preparations for the 14th India-UK Economic and Financial Dialogue, with proposed cooperation in critical minerals, green technology and city-region partnerships. Both sides agreed to hold the next EFD in December 2026.

Sitharaman reaffirmed India’s commitment to working closely with the UK on shared priorities and a constructive, inclusive G20 process.

The three meetings underline the range of economic and financial issues India is pursuing with key international partners, spanning foreign investment, trade agreements, digital financial infrastructure and emerging technologies.