India, Qatar aim to double annual trade in five years from existing USD 14 billion

PM Narendra Modi held bilateral talks with Qatar Amir Sheikh Tamim Bin Hamad Al Thani on Tuesday, with the two leaders discussing trade, investment and energy and recalling historic trade linkages and deep- rooted people to people ties between the two countries.

PM Modi appreciated the Amir of Qatar for bringing a large delegation of top Qatari business for business on this visit.

India and Qatar have also signed an agreement to elevate the bilateral relationship to a strategic partnership.

Addressing a special briefing, Secretary (CPV & OIA) in the Minister of External Affairs, Arun Kumar Chatterjee, said the two sides have to set a target tp double the bilateral in the next five years.

He said Qatar Amir is accompanied by a high-level delegation comprising ministers, senior official’s and business leaders.

Amir of the State of Qatar Sheikh Tamim Bin Hamad AL Thani last visited India in March 2015. When PM Modi paid his second visit in Feb. 2024, he had invited his Highness Amir to pay a state to India…. he had invited His Highness Amir was received by President of India Droupadi Murmu and PM Modi at Rashtrapati Bjavan, where he was accorded a ceremonial welcome.

President will meet His Highness Amir in the evening today and also host a banquet reception in honour of Amir and accompanies delegation.. PM Modi held bilateral talks with his Highness Amir at Hyderabad House. Both leaders recalled the historic trade linkages, deep rooted people to people ties and robust bilateral relations between both countries, Chatterjee said.

“To elevate the relationship to a strategic partnership, India and Qatar have signed an agreement in this regard today. Trade investment and energy were among the major topics of discussion between the two leaders today.

The trade today between India and Qatar is about USD 14 billion annually. Both sides have agreed to set target to double this in the next 5 years”, he said.

The senior MEA official said that Qatar is also an important partner for investtmnets in India.

Qatar’s overseeing wealth fund, Qatar investment Authority currently has about USD 1.5 BILLION fid in India. both leaders today intentioned a number of areas in which Qatar investment Authority can increase investments in India.

Prime Minister appreciated His Highness Qatar for bringing a large dedication of top Qatari business for business on this visit. Joint Business Forum was held today under the Co-chairmanship of the Ministers of Commerce and Industry of India and Qatar, in which top industriallsts, companies and institutions of both countries held very produtive interction” he said.

Qatar’s Amir Sheikh Tamim Bin Hamad AL Thani arrived in Delhi on Monday on two day state visit during which he held talks with PM Modhi.

In a special gesture, PM Modi received the Amir of Qatar at the Palam Technical Airport in the national capital.

(ANI)