India, Qatar upgrade ties, aim to double bilateral trade to $28 bn in 5 yrs

India and Qatar have decided to elevate bilateral relations to the level of a strategic partnership while also aiming to double investment over five years.

 

Qatari Amir Tamim Bin Hamad Al Thani is on a two-day visit to India.

 

Bilateral talks held by Prime Minister Narendra Modi with Al-Thani on Tuesday focused on trade, investment, and energy, the Ministry of External Affairs (MEA) said.

 

Both sides have committed themselves to doubling bilateral trade from $14.08 billion now, said Arun Kumar Chatterjee, secretary, Consular, Passport and Visa Division and Overseas Indian Affairs, in a briefing.

 

India’s growing ties with Qatar have expanded beyond liquefied natural gas and liquefied petroleum gas, for which Qatar is the largest supplier to India. A strategic partnership is expected to bring it on a par with the United Arab Emirates (UAE), Saudi Arabia, Oman, and Kuwait, all of which have strategic partnerships with India.

 

 

New Delhi is exploring the possibility of a free-trade agreement (FTA) with Qatar. The government is separately negotiating an FTA with the Gulf Cooperation Council, which brings together the six oil-rich economies of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.

 

The Qatar Investment Authority (QIA), the country’s sovereign wealth fund, has $1.5 billion of investment in India in retail, power, information technology, education, health, and affordable housing. Both sides have identified areas in which the QIA can increase investment. This includes infrastructure, ports, shipbuilding, renewable energy, smart cities, food parks, and startups, as well as new technologies such as artificial intelligence and robotics, and machine learning. A large delegation of Qatari business leaders accompanied the Amir, and a joint business forum was held on Tuesday. It promised to raise bilateral investment, they added.

 

A revised double taxation avoidance agreement (DTAA) was also signed. Agreements on economic partnership, cooperation in archives and documentation, and youth affairs and sports were inked. “Invest India” has signed a memorandum of understanding with its Qatari counterpart to boost investment.

 

Indians behind bars in Qatar

 

As many as 600 Indians are in Qatari prison, Chatterjee said.

 

Eight persons who were in the navy had been convicted and given the death penalty on charges of espionage by a court in Qatar in 2023. This was later commuted and prison sentences were handed to them. However, while seven of them were released and returned home last year, one remains in Qatar.

 

Chatterjee said 85 Indians had received pardon from the Qatari authorities last year. An agreement to transfer sentenced persons is awaiting ratification by the Qatari side, Chatterjee pointed out.

 

The ongoing war in Gaza, the situation in Afghanistan, and other relevant global issues too were discussed.