India, Qatar to double trade to $28bn in next five years

Boost for bilateral ties

- Rajeev Jayaswal

NEW DELHI: India and Qatar on Tuesday agreed to double bilateral trade to about $28 billion in the next five years and the Qatar Investment Authority (QIA) proposed to increase its investments in Indian infrastructure projects, smart cities, food parks, startups, and new technologies such as artificial intelligence, robotics, and machine learning.

Commerce and industry minister Piyush Goyal said that India and Qatar share a long history of successful energy trade, but the future of this partnership would extend beyond hydrocarbons to cutting-edge sectors.

Goyal said India-Qatar future partnership will rest on the pillars of sustainability, technology and entrepreneurship, and energy. He was speaking at the inaugural session of the India-Qatar Business Forum in New Delhi on Tuesday in the presence of his Qatari counterpart Sheikh Faisal bin Thani bin Faisal Al Thani, who was the Guest of Honour at the session.

Later, citing Prime Minister Narendra Modi's personal welcome to Amir of Qatar Sheikh Tamim Bin Hamad Al Thani at the airport as a sign of strong partnership ahead in lines with the changing global priorities, he said: "I think, in coming days there would be significant growth in both trade or investments between India and Qatar."

The Amir of Qatar is on his second state visit to India from 17-18 February 2025.