New Delhi, February 18, 2025: Qatar has pledged an investment of $10 billion (approximately ₹85,000 crore) in India, marking a significant boost in economic ties between the two nations. The announcement came following a bilateral meeting between Prime Minister Narendra Modi and Qatar’s Amir, Sheikh Tamim bin Hamad Al-Thani, in New Delhi on Tuesday.
The two sides also agreed to explore the possibility of an India-Qatar Free Trade Agreement (FTA) to strengthen economic cooperation. As part of its investment strategy, Qatar aims to expand its presence in India’s infrastructure, technology, manufacturing, food security, logistics, and hospitality sectors. To facilitate this, the Qatar Investment Authority will establish an office in India.
Trade Relations to Double by 2030
India and Qatar currently engage in trade worth approximately $15 billion annually. The Ministry of External Affairs (MEA) has set a target to double this figure to around $28 billion by 2030. “Both sides are committed to achieving this goal through enhanced trade and investment partnerships,” said Arun Kumar Chatterjee, Secretary of Overseas Indian Affairs in the MEA.
Key Agreements and MoUs Signed
During the visit, PM Modi and the Amir of Qatar signed two major agreements: one establishing a bilateral strategic partnership and another revising the avoidance of double taxation treaty. In addition, several Memorandums of Understanding (MoUs) were exchanged in fields such as youth and sports, historical documents and archives, investment promotion, and business cooperation.
A major highlight was the decision to integrate India’s digital payment system, UPI, into Qatar National Bank’s Point of Sales network, making digital transactions more convenient for Indian visitors and businesses in Qatar.
To further enhance trade cooperation, the Joint Working Group on Trade and Commerce has been upgraded to a Joint Commission on Trade and Commerce.
Security and Energy Ties
Both leaders reaffirmed their commitment to counterterrorism, condemning all forms of terrorism, including cross-border activities. They agreed to enhance intelligence-sharing and law enforcement cooperation, particularly in areas like anti-money laundering, drug trafficking, cybercrime, and other transnational crimes.
Qatar remains a crucial energy partner for India, supplying 48% of India’s Liquefied Natural Gas (LNG) imports and 29% of its Liquefied Petroleum Gas (LPG) imports. This energy relationship is expected to grow further in the coming years.
Indian Companies Thriving in Qatar
Several Indian firms, including Larsen & Toubro, Voltas, Shapoorji Pallonji, Wipro, TCS, Tech Mahindra, and LuLu Group, have a strong presence in Qatar. India’s key exports to Qatar include cereals, metals, processed food products, machinery, textiles, chemicals, and precious stones.
Warm Welcome for the Amir
Qatar’s Amir received a ceremonial welcome at Rashtrapati Bhavan, hosted by PM Modi and President Droupadi Murmu. Modi personally greeted him at Palam Technical Airport, underscoring the growing warmth in India-Qatar relations.
Geopolitical Significance
Qatar plays a critical role in India’s foreign policy, given its influence in regional affairs. Doha hosts the Taliban’s political office and serves as a key mediator in Middle Eastern diplomacy, making India’s engagement with Qatar essential for regional stability.
The meeting marks a new era of economic and strategic collaboration between India and Qatar, with both nations looking to expand their partnership across multiple sectors.
