FM Sitharaman Meets Key Leaders in Spain to Boost Bilateral Ties

• Sitharaman met leaders from New Zealand, Peru, and Germany to strengthen cooperation in defence, education, technology, and sustainability.
• She promoted investment opportunities in GIFT-IFSC and discussed trade, rail projects, and mineral imports with Peru.
• Discussions focused on educational exchange with New Zealand and green energy collaboration with Germany.

Nirmala Sitharaman, the Finance Minister, conducted a number of bilateral meetings on the side of the International Business Forum Leadership Summit. These discussions focused on areas of engagement in defence, education, advancing technology, and agriculture.

She met with Dr. Shane Reti, New Zealand Minister for Science Innovation and Technology, and, as we advanced our further economic engagement with New Zealand, both Nirmala Sitharaman and Dr. Reti reiterated how much shared values in democracy and importance of people-to-people ties matter.

The importance of educational exchanges as a foundation for India-New Zealand cooperation was acknowledged and Dr. Reti expressed New Zealand's interest in developing bilateral educational ties with India, while at the same time canvassing India's engagement in the Pacific.

Sitaraman emphasised the investment opportunities in GIFT-IFSC as India engages to develop the areas of banking, capital markets, FinTech, and insurance. During a meeting with the Peruvian Foreign Minister Elmer Schialer Salcedo at the FFD4 conference, both leaders discussed the potential for more in-depth cooperation in areas such as FinTech, trade, mining, infrastructure and defence.

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The minister from India talked about India's capacity for construction of rail links and manufacturing rolling stock. The Peruvian Foreign Minister suggested that Peru could involve Indian parties in its future rail projects.

The Finance Minister had said that the Indian government looks to diversify its import portfolio from Peru, including automobiles, pharmaceuticals and IT-based services, while also appreciating our imports (for example: critical minerals including copper and lithium) which support India's energy transition to the moment.

She also later met with Germany's Minister of Development Reem Alabali-Radovan to congratulate her on her new position, while discussing the way forward to enhance cooperation under the platform of the India-Germany Green and Sustainable Development Partnership.

They talked of renewable energy; cooperation and agreement on sustainable urban mobility and ecological livelihoods. The Development Minister affirmed Germany's commitment to deepen cooperation with India, built on a common vision of sustainable development and increased bilateral cooperation.