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Qatar pledges $10 billion investment in India

Qatar has pledged to invest $10 billion in India across multiple sectors, as announced in a joint statement on Tuesday following the visit of Qatar’s Emir, Sheikh Tamim bin Hamad Al-Thani, to New Delhi.

The statement revealed that Qatar’s $10 billion investment in India will be spread across sectors like infrastructure, technology, manufacturing, food security, logistics, hospitality, and more.

Indian Prime Minister Narendra Modi described his meeting with Qatar’s Emir during his two-day visit to New Delhi as “very productive.”

Modi wrote in a post on X (formerly Twitter), ” Trade featured prominently in our talks. We want to increase and diversify India-Qatar trade linkages.” This visit marked the first time in 10 years that a Qatari emir visited India.

Bilateral trade between two nations 

The statement highlighted that Qatar praised India’s efforts in creating a favorable environment for foreign direct investment (FDI) and foreign institutional investment (FII). As a result, Qatar has committed to investing USD 10 billion in India.

The Qatari leadership, represented by Amir Sheikh Tamim bin Hamad Al Thani, expressed interest in exploring investment opportunities in several key sectors in India, such as infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual benefit.

During his visit, Sheikh Tamim bin Hamad Al Thani met with Indian Foreign Minister S. Jaishankar, President Droupadi Murmu, and Prime Minister Narendra Modi.

The two countries also set a goal to double trade to $28 billion within the next five years and are considering a Free Trade Agreement (FTA). Currently, India and Qatar’s annual trade stands at around $14 billion.

The Ministry of External Affairs confirmed these developments in a press conference, noting that Qatar remains a vital partner for investments in India.

Relation between Qatar and India

With close political, cultural, and economic ties, Qatar and India’s relationship has been gradually strengthening over time. Improving collaboration in a number of areas, including commerce, investment, energy, and security, is of interest to both countries.

The relationship’s main cornerstones have been trade and investment. With huge investments in industries like energy, real estate, and infrastructure, Qatar is one of India’s biggest trading partners in the Middle East. One of Qatar’s biggest suppliers of foreign workers, particularly for the building and service sectors, is India.

Increasing their energy connections, Qatar is one of India’s main suppliers of liquefied natural gas (LNG).Qatar played a significant role in India’s energy sector, accounting for over 48% of the country’s LNG import during the year 2023.

With so many Indians residing and working in Qatar, the Indian diaspora there contributes significantly to the improvement of bilateral ties. This has facilitated the development of solid interpersonal relationships.

Written By

Aastha Pokharel is a law undergraduate currently serving as a Content Writer at World Info.

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