Sitharaman Meets Manturov to Advance India-Russia Investment Ties

New Delhi, September 11, 2026 India and Russia are seeking to give fresh momentum to their economic partnership, with investment and financial cooperation taking centre stage. Union Finance and Corporate Affairs Minister Nirmala Sitharaman met First Deputy Prime Minister of the Russian Federation Denis Manturov in New Delhi on Friday, on the sidelines of the 18th BRICS Summit. The discussions focused on expanding investment and financial cooperation between the two countries. Both sides agreed to move forward with negotiations on a Bilateral Investment Treaty (BIT), aimed at creating a mutually beneficial framework for boosting investment flows and strengthening economic engagement. “It was agreed to advance negotiations on a Bilateral Investment Treaty (BIT), with a view to establishing a mutually beneficial framework for enhancing investment flows and economic engagement,” the Ministry of Finance said in a post on X. The two leaders also discussed avenues for expanding cooperation in the financial services sector. The talks come as India and Russia continue to explore ways to broaden their economic relationship, with investment, financial services and trade playing an increasingly significant role in bilateral cooperation. The meeting coincided with Russian President Vladimir Putin’s arrival in New Delhi for the BRICS Summit. Putin was received at the airport by Union Minister of State for External Affairs Kirti Vardhan Singh and is scheduled to meet Prime Minister Narendra Modi later on Friday for bilateral discussions. Putin and Modi are also scheduled to visit the INNOPROM exhibition, jointly organised by the industry and trade ministries of India and Russia. The exhibition is aimed at displaying industrial and technological capabilities and promoting business-to-business cooperation. India is hosting the 18th BRICS Summit in New Delhi on September 12 and 13 under its 2026 BRICS Chairship, guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability”. The latest discussions between Sitharaman and Manturov underline the focus on translating the broader India-Russia relationship into deeper economic and investment ties.