Qatar has committed to investing $10 billion in India across multiple sectors, marking a significant boost in economic cooperation between the two nations. The announcement came 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 the Qatari leader as “very productive,” emphasizing trade as a key focus of their discussions. Modi highlighted the shared commitment to expanding and diversifying economic linkages between the two countries.
According to a joint statement, Qatar’s investment will be directed toward infrastructure, technology, manufacturing, food security, logistics, hospitality, and other key sectors. The two nations also aim to double their annual trade to $28 billion within the next five years and are considering a free trade agreement.
Bilateral trade between India and Qatar stood at $18.77 billion in the fiscal year ending March 2023, with liquefied natural gas (LNG) imports from Qatar forming a major component. Qatar accounted for over 48% of India’s LNG imports during that period.
The leaders also agreed to strengthen cooperation in the energy sector, explore mutual investments in energy infrastructure, and work towards settling bilateral trade transactions in their respective currencies. This visit marked the first by a Qatari Emir to India in a decade, underscoring the growing economic partnership between the two nations.
19th Feb 2025
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