Mumbai | The Internet and Mobile Association of India (IAMAI) and the Ministry of Investment of the Kingdom of Saudi Arabia (MISA) today signed a Memorandum of Understanding (MoU) at the Global Fintech Fest 2026 (GFF 2026) in Mumbai, establishing a framework for deeper cooperation between the fintech, startup and investment ecosystems of India and Saudi Arabia.
The MoU was signed by Dr. Abdullah Ali Aldubaikhi, Assistant Minister for Business Development, Ministry of Investment, Kingdom of Saudi Arabia, and Dr. Subho Ray, President, IAMAI, and. The partnership seeks to build a stronger and more structured bridge between the two countries' rapidly growing innovation ecosystems by facilitating engagement among fintech companies, startups, investors, financial institutions and other ecosystem stakeholders.
Under the three-year framework, IAMAI and MISA will explore cooperation across fintech ecosystem development, startup collaboration, investment promotion, innovation, market access and cross-border ecosystem engagement. The partnership will particularly focus on identifying and enabling opportunities for high-potential fintech companies and startups from both markets.
The cooperation could include curated business introductions, investor and startup matchmaking, market-access initiatives, business expansion opportunities, strategic partnerships, delegations, roundtables, workshops and knowledge-exchange programmes.
The MoU also provides for collaboration through major international fintech and startup platforms, creating opportunities for sustained engagement beyond individual events.
The partnership is intended to translate the growing economic and strategic engagement between India and Saudi Arabia into practical opportunities for technology companies, startups and investors.
Dr. Abdullah Ali Aldubaikhi, Assistant Minister for Business Development, Ministry of Investment, Kingdom of Saudi Arabia, said, “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.
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.”
Dr. Subho Ray, President, IAMAI, said, “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.
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.”
From Agreement to Action
Following the signing at GFF 2026, IAMAI and MISA will explore a structured programme of engagement that could include:
· Curated India–Saudi fintech and startup delegations
· Market-access programmes for eligible companies
· Investor–startup and business matchmaking
· Identification and engagement of high-potential fintech companies
· Introductions to relevant ecosystem and business stakeholders
· Investment-promotion initiatives
· Strategic partnerships and innovation-led collaborations
· Roundtables, workshops and ecosystem dialogues
· Knowledge exchange on fintech, digital finance and emerging technologies
· Research and thought-leadership initiatives
· Participation in major international fintech and startup platforms
The collaboration seeks to establish an enduring channel through which companies and investors in both countries can identify opportunities, build partnerships and participate more deeply in each other's markets.
The MoU will remain in effect for an initial period of three years, with the possibility of renewal by mutual agreement.
About Internet and Mobile Association of India (IAMAI)
The Internet and Mobile Association of India (IAMAI) is a not-for-profit industry body with more than 800 members, including Indian and multinational corporations, as well as start-ups. IAMAI has been instrumental in shaping India’s digital economy. IAMAI advocates free and fair competition, and progressive and enabling laws for businesses as well as for consumers. The overarching objective of IAMAI is to ensure the progress of the internet and the digital economy. Its major areas of activities are public policy and advocacy, business to business conferences, research, promotion of start-ups and promotion of consumer trust and safety.
About MISA
The Ministry of Investment of the Kingdom of Saudi Arabia (MISA) is responsible for advancing the Kingdom's investment agenda, facilitating investment opportunities and strengthening engagement with businesses and investors across international markets.