New Delhi: Qatar has committed to investing $10 billion in India across a wide range of sectors, as announced in a joint statement following the visit of Qatar’s Amir, Sheikh Tamim bin Hamad Al-Thani, to New Delhi on Tuesday.
The statement highlighted Qatar’s recognition of India’s efforts in fostering an environment conducive to Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII). Qatar expressed keen interest in exploring investment opportunities in areas such as infrastructure, technology, manufacturing, food security, logistics, hospitality, and other sectors of mutual interest.
India, in return, praised Qatar’s strides in improving its investment climate and its initiatives aimed at attracting FDI. The statement also noted that both countries are aiming to double bilateral trade by 2030, underscoring the growing economic partnership between the two nations.
A significant development was the successful integration of India’s Unified Payment Interface (UPI) at Qatar National Bank’s Points of Sale (POS) systems. Both sides expressed optimism about expanding UPI acceptance across Qatar in the near future.
Additionally, the two nations agreed to explore the possibility of conducting trade in their respective currencies, which could simplify and enhance economic exchanges between them.
Indian Prime Minister Narendra Modi met with Qatar’s Amir in New Delhi on Tuesday, following an invitation from the Gulf leader.
Modi called the meeting “productive” and emphasized the strengthened ties between the two countries. “Had a very productive meeting with my brother, Amir of Qatar H.H. Sheikh Tamim Bin Hamad Al Thani, earlier today. Under his leadership, Qatar has reached new heights. He is committed to a strong India-Qatar friendship. This visit is even more special as we have upgraded our relationship to a Strategic Partnership,” Modi wrote on social media platform X.
The Prime Minister also noted that enhancing trade relations was a key focus of their discussions. “We aim to diversify and increase our trade links with Qatar. We can also collaborate closely in sectors such as energy, technology, healthcare, food processing, pharmaceuticals, and green hydrogen,” Modi added.
This high-profile visit signals a new chapter in India-Qatar relations, with both countries looking to expand cooperation in various fields.
