Following the visit of Qatar’s Amir, Sheikh Tamim Bin Hamad Al Thani , India and Qatar have taken a significant step forward in their bilateral relations. These relations are marked by a series of key agreements and initiatives aimed at strengthening trade, investment, energy, and cultural ties between the two nations.
Qatar has committed to investing USD 10 billion in India, with a focus on sectors such as infrastructure, technology, and manufacturing. Both countries have also set an ambitious target to double bilateral trade by 2030, with the exploration of a potential Free Trade Agreement. Alongside economic collaboration, the two nations have agreed to expand their energy partnership and operationalize India ‘s UPI system in Qatar.
Additionally, various Memorandums of Understanding (MoUs) have been signed to enhance cooperation in finance, sports, youth, and cultural exchanges, including a celebration of the Year of Culture, Friendship, and Sports. As per the Ministry of External Affairs, India and Qatar signed a Strategic Partnership Agreement for the elevation of the India bilateral relationship to a Strategic Partnership. 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. Qatar Investment Authority (QIA) will open an office in India. Both sides have set the target to double bilateral trade by 2030 and have agreed to explore an India-Qatar Free Trade Agreement.
There will also be operationalization of India’s UPI at the Qatar National Bank (QNB) Point of Sales in Qatar and expansion of Qatar National Bank presence in India by setting up an office in the GIFT City.
