India, Saudi Arabia deepen fintech ties with three-year pact for investment, startup expansion

The Internet and Mobile Association of India (IAMAI) and Saudi Arabia’s Ministry of Investment (MISA) have signed a three-year agreement aimed at strengthening cooperation between the two countries’ fintech, startup and investment ecosystems.

The Memorandum of Understanding was announced at the Global Fintech Fest 2026 in Mumbai on Wednesday, September 9. The partnership will focus on areas including market access, investment promotion, startup collaboration and cross-border business opportunities.

The agreement was signed by Dr Abdullah Ali Aldubaikhi, Assistant Minister for Business Development at Saudi Arabia’s Ministry of Investment, and Dr Subho Ray, President of IAMAI.


Under the framework, the two organisations will work to connect fintech companies and startups with investors, financial institutions and other businesses across India and Saudi Arabia.

The partnership could include business introductions, investor-startup matchmaking, market-access programmes, delegations, workshops and roundtables. The two sides will also look to identify high-potential fintech companies and startups seeking to expand into each other's markets.

The agreement comes as India and Saudi Arabia seek to deepen economic ties and increase cooperation in technology, investment and emerging industries.

“Saudi Arabia is building a globally connected investment and innovation ecosystem, and India is an important partner with significant strengths in technology, entrepreneurship and digital financial services,” Aldubaikhi said.

“Through this cooperation with IAMAI, we look forward to strengthening connections between our two ecosystems and creating practical opportunities for companies, startups and investors. The objective is to translate these connections into investment, market access, strategic partnerships and long-term collaboration between Saudi Arabia and India.”

Focus on market access and investment

The partnership will also explore investment-promotion initiatives and strategic collaborations while facilitating introductions between companies and relevant business stakeholders in the two countries.

IAMAI and MISA plan to use major international fintech and startup platforms to maintain engagement beyond individual events. Knowledge-sharing initiatives covering digital finance, fintech and emerging technologies, as well as research programmes, could also form part of the collaboration.

“India and Saudi Arabia are among the world's most dynamic digital and entrepreneurial economies, and there is significant potential to create deeper connections between our companies, startups, investors and innovation ecosystems,” Ray said.

“This MoU gives us an institutional framework to move beyond individual engagements towards a sustained India–Saudi fintech and startup corridor. Our focus will be on creating tangible pathways for market access, investment, partnerships and business expansion for high-potential companies from both countries.”

Following the signing, IAMAI and MISA will explore a structured programme that could include India-Saudi fintech and startup delegations, investor and business matchmaking, market-access initiatives and identification of companies with potential to expand across the two markets.

The MoU will remain in force for an initial three-year period and can be renewed by mutual agreement.