New Delhi, Feb 18 (UNI) Qatar committed to invest USD10 billion in India, and both sides agreed to double the bilateral trade by 2030, as both countries agreed to elevate their ties to a Strategic Partnership with focus on trade, energy and investments, following talks between Prime Minister Narendra Modi and Qatar Amir Sheikh Tamim Bin Hamad Al Thani here today.
PM Modi said in posts on X that he had a very productive meeting with the Qatar Amir, and that trade featured prominently in the talks.
“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 scaled new heights of progress. He is also committed to a strong India-Qatar friendship. This visit is even more special because we have elevated our ties to a Strategic Partnership.
“Trade featured prominently in our talks. We want to increase and diversify India-Qatar trade linkages. Our nations can also work closely in sectors like energy, technology, healthcare, food processing, pharma and green hydrogen,” the PM said.
The list of outcomes included:
*Elevation of India-Qatar bilateral relationship to Strategic Partnership
*The two sides are to set up Two Joint Ministerial Commissions at the level of Foreign Ministers and Ministers of Commerce and Industry
In the field of trade and investment:
*Qatar side is exploring opportunities to increase investments in India in infrastructure, technology, manufacturing, food security, logistics, hospitality, and areas of mutual interest. In this regard, Qatar committed to invest USD 10 billion in India.
*⁠Decision of Qatar Investment Authority (QIA) to open an office in India.
*Both sides set the target to double bilateral trade by 2030.
*⁠Both sides agreed to explore an India-Qatar Free Trade Agreement
*⁠Operationalization of India's UPI at Qatar National Bank (QNB) Point of Sales in Qatar.
*⁠Expansion of Qatar National Bank presence in India by setting up an office in the GIFT City.
In the field of Energy partnership:
*Both sides agreed on deepening the India-Qatar energy partnership, including through trade and mutual investments.
Among other outcomes:
*Extension of Indian e-Visa facility for Qatari nationals.
*⁠India and Qatar agreed to celebrate Year of Culture, Friendship and Sports in near future.
List of Agreements/MoUs:
Agreement on Establishment of Bilateral Strategic Partnership; ⁠Revised Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income; ⁠MoU on Financial and Economic Cooperation between Ministry of Finance, Government of India and Ministry of Finance, Government of the State of Qatar; ⁠MoU for Cooperation in the field of Youth and Sports; ⁠MoU for Cooperation in the field of Documents and Archives; ⁠MoU for Cooperation between Invest India and Invest Qatar; ⁠MoU between Confederation of Indian Industry and Qatari Businessmen Association.
“The Amir’s visit provided an excellent opportunity for the top leadership of the two countries to discuss and cement a strategic partnership for enhanced future cooperation as well as exchange views on regional and international issues of mutual interest,” said Secretary CPV & OIA Arun Kumar Chatterjee at a media briefing.
A joint statement said: “The two sides noted that trade and commerce has been a strong pillar of bilateral economic cooperation between the two countries and emphasized on the potential for further growth and diversification in bilateral trade.
They welcomed the elevation of the existing Joint Working Group on Trade and Commerce into a Joint Commission on Trade and Commerce.
They welcomed the holding of the first meeting of the Joint Business Council on 13 February 2025.
They agreed to explore the possibility of entering into a bilateral Comprehensive Economic
Partnership Agreement. Both sides set the target to double bilateral trade by 2030.
The Indian side welcomed the decision of Qatar Investment Authority (QIA) to open an office in India.
Both sides expressed satisfaction with the progress made by the Joint Task Force on Investments during its first meeting in June 2024, where various avenues for investments in India were discussed.
The Qatar side expressed interest to explore investment opportunities in different sectors, including infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual interest. In this regard, the Qatar side announced a commitment to invest USD 10 billion in India.
The two sides welcomed convening of the Joint Business Forum inaugurated by the Ministers of Commerce and Industry of both countries on 18 February 2025.
Both sides emphasized the importance of trade exhibitions as a strategic platform for promoting commercial partnerships
The two sides welcomed the operationalization of India’s Unified Payment Interface (UPI) in QNB’s Points of Sales in Qatar and looked forward to implement nation-wide roll-out of UPI acceptance in Qatar.
They also agreed to explore settlement of bilateral trade in respective currencies.
QNB’s expansion is also welcomed in India through setting up of an office in GIFT City.
The two sides shall work to further enhance bilateral energy cooperation, including through promotion of trade and mutual investments in energy infrastructure and regular meetings of the relevant stakeholders from both sides, including the Joint Task Force on Energy.
The two leaders unequivocally condemned terrorism in all its forms and manifestations including cross-border terrorism and agreed to cooperate in combating this menace through bilateral and multilateral mechanisms.
They agreed to enhance cooperation in information and intelligence sharing, developing and exchanging experiences, best practices and technologies, capacity building and to strengthen cooperation in law enforcement, anti-money laundering, drug-trafficking, Cybercrime and other transnational crimes.
The two sides agreed to hold regular meetings of the Joint Working Group on Labour and Employment to address issues related to welfare of workers and matters of mutual interest.
The two sides exchanged views on regional and international issues of mutual interest, including the security situation in the Middle East. They emphasized the importance of dialogue and diplomacy for peaceful resolution of international disputes.
The Indian side thanked Qatar for its support to the growing India-GCC cooperation and for facilitating the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue at the level of Foreign Ministers held in Riyadh on 9 September 2024 under Qatar’s Chairmanship.
In the context of UN reforms, both leaders emphasized the importance of a reformed and effective multilateral system, centered on a UN reflective of contemporary realities, as a key factor in tackling global challenges.
UNI RN