Alongside economic collaboration, the two nations have agreed to expand their energy partnership and operationalize India’s UPI system in Qatar
Following the visit of Qatar’s Amir, Sheikh Tamim Bin Hamad Al Thani, India and Qatar have taken a significant step forward in their bilateral relations. These relations are marked by a series of key agreements and initiatives aimed at strengthening trade, investment, energy, and cultural ties between the two nations.
Qatar has committed to investing $10 billion in India, with a focus on sectors such as infrastructure, technology, and manufacturing. Both countries have also set an ambitious target to double bilateral trade by 2030, with the exploration of a potential Free Trade Agreement.
Alongside economic collaboration, the two nations have agreed to expand their energy partnership and operationalize India’s UPI system in Qatar. Additionally, various Memorandums of Understanding (MoUs) have been signed to enhance cooperation in finance, sports, youth, and cultural exchanges, including a celebration of the Year of Culture, Friendship, and Sports.
As per the Ministry of External Affairs, India and Qatar signed a Strategic Partnership Agreement for the elevation of the India-Qatar bilateral relationship to a Strategic Partnership.
Qatar side is exploring opportunities to increase investments in India in infrastructure, technology, manufacturing, food security, logistics, hospitality, and areas of mutual interest. In this regard, Qatar committed to invest $10 billion in India.
Qatar Investment Authority (QIA) will open an office in India. Both sides have set the target to double bilateral trade by 2030 and have agreed to explore an India-Qatar Free Trade Agreement.
There will also be operationalization of India’s UPI at the Qatar National Bank (QNB) Point of Sales in Qatar and expansion of Qatar National Bank presence in India by setting up an office in the GIFT City.
Both the nations will deepen India-Qatar energy partnership, including through trade and mutual investments.
There will be extension of Indian e-Visa facility for Qatari nationals. Both nations have also agreed to celebrate Year of Culture, Friendship and Sports in the near future.
India and Qatar have signed an agreement on the Establishment of Bilateral Strategic Partnership as well as a Revised Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income.
The other MoUs include the MoU on Financial and Economic Cooperation between Ministry of Finance, Government of India and Ministry of Finance, Government of the State of Qatar; MoU for Cooperation in the field of Youth and Sports between Ministry of Youth Affairs and Sports, Government of India and Ministry of Sports & Youth, Government of the State of Qatar; MoU for Cooperation in the field of Documents and Archives between National Archives of India, Government of India and National Archives of Qatar, Government of the State of Qatar; MoU for Cooperation between Invest India and Invest Qatar; and MoU between Confederation of Indian Industry and Qatari Businessmen Association.
The Amir of Qatar, who arrived in India on a two-day visit on Monday, received the Guard of Honour and a ceremonial welcome in the forecourt of Rashtrapati Bhavan.
Meanwhile, Amir of Qatar Sheikh Tamim Bin Hamad Al Thani on Tuesday expressed his appreciation for the Indian community in Qatar, acknowledging its role in strengthening the social and cultural development of Qatar and serving as a social bridge between India and Qatar.
Al Thani said, “Last year we witnessed significant progress in our cooperation, especially in the energy sector, with the signing of an important agreement between our two countries in the fields of trade and mutual investments. Additionally, our countries reached an agreement to establish a strategic partnership, reflecting a strong commitment to developing cooperation in various fields and enhancing the bonds between our two peoples…”
He added, “In this context, I would like to express my appreciation for the Indian community in Qatar, which plays a vital role in the social and cultural development of our country and serves as a social bridge between our two friendly nations.”
Al Thani also praised India’s “remarkable progress” across various sectors and expressed his confidence in the continued growth of the Indian economy. He also reaffirmed Qatar’s commitment to strengthening bilateral ties, particularly in the field of energy.
Highlighting the importance of renewable energy cooperation, the Amir underscored its role in shaping future strategies between the two nations.
Al Thani on Tuesday said, “As we observed India’s remarkable progress in all fields, we are confident that the Indian economy will continue to thrive in the coming decades.”
He added, “Building on our historical relations and our shared interests, we reaffirm our commitment to providing reliable and secure energy sources, with renewable energy cooperation forming an essential part of our future strategies.”
Welcoming Al Thani on his second State Visit to India, President Droupadi Murmu said that India’s relations with Qatar are steeped in history, spanning centuries. Qatar has been an integral part of West Asia’s linkages of commerce and culture with India.
“It gives me great pleasure to welcome Amir of the State of Qatar, Sheikh Tamim Bin Hamad Al Thani and his delegation on his second State Visit to India,” the President said.
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