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This is the latest manifestation of India’s deepening engagement with nations in West Asia and the Gulf region.
Bilateral cooperation between India and Qatar is set to get a major boost with the two sides deciding to elevate ties to a Strategic Partnership on Tuesday (February 18, 2025). The decision was taken during wide-ranging talks between Prime Minister Narendra Modi and Amir of Qatar Sheikh Tamim Bin Hamad Al-Thani in New Delhi.
The move will lead to stronger focus on critical areas like trade, investment, and energy in addition to innovation, technology, food security, culture and people-to-people ties.
Tuesday's development is the latest manifestation of India’s deepening engagement with nations in West Asia and the Gulf region. India already has Strategic Partnerships with the UAE, Saudi Arabia, Oman, and Kuwait within the Gulf Cooperation Council (GCC).
India & Qatar aim to Double Bilateral Trade
Briefing the media after the meeting, Arun Kumar Chatterjee, Secretary (CPV & OIA) in the Ministry of External Affairs (MEA) said trade, investment, and energy were among the main topics of discussion.
Both sides have set a target to double the volume of bilateral trade over the next five years from the current annual figure of about USD 14 billion, he said.
At the same time, the Qatar Investment Authority, which has about USD 1.5 bn FDI in India in sectors like retail, power, IT, and health, has identified new areas like infrastructure, ports, ship building, energy, startups, Chatterjee added. AI, robotics and machine learning were other areas that would be explored.
“We expect the visit to lead to further growth in mutual investments,” the MEA Secretary noted.
During the talks, India and Qatar also decided to further strengthen their energy partnership.
Responding to queries during the media briefing, the Secretary (CPV & OIA) said India and Oman were exploring a Free Trade Agreement (FTA) in the future. This would be in addition to the FTA that India was negotiating with the Gulf Cooperation Council (GCC) at the multilateral level.
In addition to the agreement on a Strategic Partnership, India and Qatar also inked a pact on double taxation.
Five Memoranda of Understanding (MoUs) have been signed, on Economic Partnership; Cooperation in the area of archives and documentation; Youth Affairs and Sports; Promoting mutual investments; and Promoting networks of top businessmen from both sides.
India and Qatar have deep-rooted historical ties of friendship, trust and mutual respect. In recent years, the ties between the two countries including in the areas of trade, investment, energy, technology, culture and people-to-people ties have continued to strengthen. The Indian community residing in Qatar forms the largest expatriate community of Qatar, and is appreciated for its positive contribution in the progress and development of Qatar.
Both sides have set a target to double the volume of bilateral trade over the next five years from the current annual figure of about USD 14 billion, he said.
At the same time, the Qatar Investment Authority, which has about USD 1.5 bn FDI in India in sectors like retail, power, IT, and health, has identified new areas like infrastructure, ports, ship building, energy, startups, Chatterjee added. AI, robotics and machine learning were other areas that would be explored.
“We expect the visit to lead to further growth in mutual investments,” the MEA Secretary noted.
During the talks, India and Qatar also decided to further strengthen their energy partnership.
Responding to queries during the media briefing, the Secretary (CPV & OIA) said India and Oman were exploring a Free Trade Agreement (FTA) in the future. This would be in addition to the FTA that India was negotiating with the Gulf Cooperation Council (GCC) at the multilateral level.
In addition to the agreement on a Strategic Partnership, India and Qatar also inked a pact on double taxation.
Five Memoranda of Understanding (MoUs) have been signed, on Economic Partnership; Cooperation in the area of archives and documentation; Youth Affairs and Sports; Promoting mutual investments; and Promoting networks of top businessmen from both sides.
India and Qatar have deep-rooted historical ties of friendship, trust and mutual respect. In recent years, the ties between the two countries including in the areas of trade, investment, energy, technology, culture and people-to-people ties have continued to strengthen. The Indian community residing in Qatar forms the largest expatriate community of Qatar, and is appreciated for its positive contribution in the progress and development of Qatar.
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