The Ministry of External Affairs (MEA) said in a statement that the qatar Investment Authority (QIA) announced a $10 billion investment and chose to create an office in india on Tuesday.
The decision of the qatar Investment Authority (QIA) to establish an office in india was welcomed by the indian side due to the two countries' strong strategic partnership and the fact that the indian economy is among the fastest expanding in the world. During the Joint Task Force on Investments' inaugural meeting in june 2024, when several investment opportunities in india were explored, both parties expressed satisfaction with the progress accomplished, according to the MEA's statement.
According to officials, prime minister Narendra Modi and Sheikh Tamim Bin Hamad Al-Thani, the Amir of qatar, spoke about the potential for future bilateral free trade agreements during their meeting.
The gulf Cooperation Council (GCC) and india are now "negotiating about having an FTA," according to Arun Kumar Chatterjee, Secretary (CPV & OIA) in the Ministry of External Affairs.
The United Arab Emirates (UAE), Bahrain, Saudi Arabia, Oman, qatar, and kuwait make up the powerful GCC.
"We are now negotiating a free trade deal, or FTA, between india and the gulf Cooperation Council. Regarding qatar, both parties are investigating the prospect of a future free trade deal. When questioned about the state of the FTA negotiations between india and the GCC, Chatterjee stated, "And that was one of the discussions that took place in this round of talks."
Outcomes of qatar Amir's india Visit
Strategic Partnership: The bilateral ties between india and qatar have been upgraded to a strategic partnership.
Bilateral Mechanisms: Establishment of two Joint Ministerial Commissions, one for Commerce and industry Ministers and one for Foreign Ministers.
Trade and Investment:
Qatar pledged to spend USD 10 billion in india, investigating industries including manufacturing, logistics, hotels, food security, infrastructure, and technology.
India will see the opening of a qatar Investment Authority (QIA) office.
By 2030, both nations want to quadruple their bilateral commerce.
A free trade agreement between india and qatar is being discussed.
India's UPI is being operationalized at the qatar National bank (QNB) Point of Sale.
By opening an office in gift City, qatar National bank increases its footprint in India.
Energy:
Deepened energy partnership, including trade and mutual investments in energy resources.
Other Developments:
Extension of indian e-Visa facility for Qatari nationals.
Agreement to celebrate the Year of Culture, Friendship, and sports in the near future.
The decision of the qatar Investment Authority (QIA) to establish an office in india was welcomed by the indian side due to the two countries' strong strategic partnership and the fact that the indian economy is among the fastest expanding in the world. During the Joint Task Force on Investments' inaugural meeting in june 2024, when several investment opportunities in india were explored, both parties expressed satisfaction with the progress accomplished, according to the MEA's statement.
According to officials, prime minister Narendra Modi and Sheikh Tamim Bin Hamad Al-Thani, the Amir of qatar, spoke about the potential for future bilateral free trade agreements during their meeting.
The gulf Cooperation Council (GCC) and india are now "negotiating about having an FTA," according to Arun Kumar Chatterjee, Secretary (CPV & OIA) in the Ministry of External Affairs.
The United Arab Emirates (UAE), Bahrain, Saudi Arabia, Oman, qatar, and kuwait make up the powerful GCC.
"We are now negotiating a free trade deal, or FTA, between india and the gulf Cooperation Council. Regarding qatar, both parties are investigating the prospect of a future free trade deal. When questioned about the state of the FTA negotiations between india and the GCC, Chatterjee stated, "And that was one of the discussions that took place in this round of talks."
Outcomes of qatar Amir's india Visit
Strategic Partnership: The bilateral ties between india and qatar have been upgraded to a strategic partnership.
Bilateral Mechanisms: Establishment of two Joint Ministerial Commissions, one for Commerce and industry Ministers and one for Foreign Ministers.
Trade and Investment:
Qatar pledged to spend USD 10 billion in india, investigating industries including manufacturing, logistics, hotels, food security, infrastructure, and technology.
India will see the opening of a qatar Investment Authority (QIA) office.
By 2030, both nations want to quadruple their bilateral commerce.
A free trade agreement between india and qatar is being discussed.
India's UPI is being operationalized at the qatar National bank (QNB) Point of Sale.
By opening an office in gift City, qatar National bank increases its footprint in India.
Energy:
Deepened energy partnership, including trade and mutual investments in energy resources.
Other Developments:
Extension of indian e-Visa facility for Qatari nationals.
Agreement to celebrate the Year of Culture, Friendship, and sports in the near future.
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