India-Qatar strategic partnership to boost trade and investment: FIEO
The strengthened strategic partnership between India and Qatar is expected to drive deeper economic cooperation, facilitating increased trade and investment flows, the Federation of Indian Export Organisations (FIEO) stated on Wednesday.
FIEO President Ashwani Kumar highlighted the key outcomes of the visit, emphasizing that enhanced bilateral ties will unlock new opportunities for Indian exporters and businesses.
Qatar has committed to investing $10 billion in India, while also acknowledging its own emerging role as a regional hub for trade and services. With its strategic location, world-class infrastructure, and business-friendly policies, Qatar is positioning itself as a critical partner for Indian businesses.
“The commitment to doubling bilateral trade, along with Qatar’s significant investment pledge and initiatives for improved trade facilitation, creates a favorable environment for Indian businesses to expand their presence in Qatar,” said Kumar.
The strategic push aims to substantially increase trade volumes, signaling a strong and positive outlook for Indian industries engaged in the Qatari market.
A key development is the integration of the Unified Payments Interface (UPI) in Qatar, which will streamline cross-border financial transactions, making trade between the two nations more seamless. Business-to-business partnerships are also set to flourish with increased engagement between industry bodies like the Joint Business Council and Joint Business Forum.
India and Qatar also welcomed the signing of the revised Double Taxation Avoidance Agreement and pledged to fast-track negotiations on the India-Qatar Bilateral Investment Treaty.
FIEO reaffirmed its commitment to supporting Indian exporters and businesses in leveraging these opportunities to meet the ambitious trade targets set by both governments.
Kumar expressed confidence that the deepening economic collaboration will not only enhance trade and investment but also contribute to long-term growth and prosperity for both nations.
During their discussions, Prime Minister Narendra Modi and Qatar’s Amir Sheikh Tamim bin Hamad Al-Thani reiterated their shared commitment to strengthening bilateral relations through structured cooperation in key areas, including trade, investment, energy, security, technology, culture, education, and people-to-people ties.
