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.
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.
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.