In a major boost to bilateral relations, Qatar has pledged a USD 10 billion investment in India, with an ambitious goal to double trade between the two countries by 2030. This move follows the recent visit of Qatar’s Amir, Sheikh Tamim Bin Hamad Al Thani, marking a significant step toward strengthening ties in trade, investment, energy, and culture.
The focus of Qatar’s investment will be in key sectors, including infrastructure, technology, and manufacturing. Both nations have also agreed to explore the possibility of a Free Trade Agreement (FTA) to further enhance economic cooperation.
Beyond economic collaboration, the two countries have made strides in expanding their energy partnership and implementing India’s Unified Payments Interface (UPI) in Qatar. Several Memorandums of Understanding (MoUs) were signed, covering areas such as finance, sports, youth engagement, and cultural exchanges, including the celebration of a “Year of Culture, Friendship, and Sports.”
The Ministry of External Affairs confirmed that India and Qatar have signed a Strategic Partnership Agreement to elevate their bilateral relations. Qatar’s investment focus includes sectors such as infrastructure, technology, manufacturing, food security, logistics, and hospitality.
Qatar Investment Authority (QIA) will establish an office in India, while both sides aim to achieve the goal of doubling trade by 2030. They have also agreed to explore an India-Qatar Free Trade Agreement.
Additionally, India’s UPI system will be operationalized at the Qatar National Bank (QNB) Point of Sale terminals, and QNB will expand its presence in India by opening an office in the GIFT City. Both countries will deepen their energy partnership through trade and mutual investments.
Other key initiatives include the extension of India’s e-Visa facility for Qatari nationals and the celebration of the Year of Culture, Friendship, and Sports.
India and Qatar have also signed agreements to enhance their strategic partnership and revised agreements on the avoidance of double taxation. Additional MoUs cover areas like financial and economic cooperation, youth and sports, document and archives management, and business collaboration.
The Amir of Qatar, who is on a two-day official visit to India, received a ceremonial Guard of Honour at Rashtrapati Bhavan.
