Amir’s India visit: Plan to double bilateral trade to $28bn in five years; Qatar to invest $10bn in India

Published: 19 February 2025

Reuters / Agencies
New Delhi

Qatar and India have announced a strategic commitment to double their annual trade volume to $28bn within the next five years. The announcement came following a high-level meeting between HH Amir Sheikh Tamim bin Hamad Al Thani and Indian Prime Minister Narendra Modi during the Amir’s two-day visit to New Delhi.

In a joint statement released on Tuesday, Qatar also pledged an investment of $10bn in India across multiple sectors, including infrastructure, technology, manufacturing, food security, logistics, and hos-pitality. The move underscores the strengthening economic ties between the two nations, with both leaders expressing a shared vision for enhancing trade, investment, and strategic cooperation.

As part of their newly established Strategic Partnership, both sides reaffirmed their commitment to strengthening political, trade, investment, security, energy, cultural, educational, and technological cooperation. Additionally, they welcomed the signing of the revised Double Taxation Avoidance Agreement and agreed to expedite negotiations on the India-Qatar Bilateral Investment Treaty.

According to the Indian foreign ministry, the two countries are also exploring the possibility of a free trade agreement to facilitate economic expansion. Bilateral trade between Qatar and India stood at $18.77bn in the fiscal year ending March 2023, largely driven by liquefied natural gas (LNG) imports from Qatar.

With this renewed commitment, both nations aim to foster deeper economic engagement and create new opportunities for businesses and investors, ensuring mutual growth and prosperity in the years to come.
Amir left New Delhi on Tuesday after his state visit.