Direct shipping lines boost India-Qatar trade, says Sangla
India is a very strategic trade partner for Qatar and bilateral trade has grown 33% on the year in 2022 to over US$18 billion, says Dr. Hamad Salem Mejegheer, Executive Director, Qatar Export Development and Promotion Agency, Qatar Development Bank.
“We are confident of increasing this further in the coming years,” he said at the “Qatar-India Trade Mission 2023” held 15-16 March in Mumbai.
Led by Qatar Development Bank, the Mission comprising 23 Qatar based companies found business interest in more than 150 Indian companies.
“Due to the direct shipping lines from India’s ports to the ports of Qatar, both countries are seeing a substantial increase of trade which is very encouraging,” said Saurabh Sangla, Executive Director, Signet Industries Ltd & Adroit Industries Ltd.
“The idea behind this Mission, which will be a first in a series of Qatar-Indian Trade Missions, is to help and assist importers, wholesales, distributors and enterprises who are aiming to look at Middle East as a strategic market,” he said.
India is one of the top three largest export destinations for Qatar and is also the top three sources for Qatar’s imports, added Sangla, also Co-Chairman International Business, CII Mumbai – Western Region.
Dr. Manik G. Gursal, IAS, Additional Commissioner (Industries), Maharashtra, elaborated, “India and Qatar as two growing nations have many commonalities.
“Qatar is one of the richest countries in the world and we are happy to have trade dialogues with them. Today, Maharashtra is laying down red carpets for companies to invest in and removing the very concept of red tape.
“As a part of the Industries Department, we will do our best and ensure there are speedy approvals and guidance at every step,” Dr. Gursal said.
“This trade mission is all about a strong connect between the Small and Medium Enterprise (SME) business,” added Shantanu Bhadkamkar, Chairman, ASSOCHAM Maharashtra State Development Council & MD, ATC Group.
“We believe this is just the beginning and we want everyone here to share their thoughts and experiences,” he said.
The Mission was organized by Qatar Development Bank (QDB) to further strengthen the commerce, trade and business relationship between Qatar and India.
Twenty-three leading exporters from Qatar participated in the Mission, representing manufacturing sectors such as aluminum alloys & profiles, base oils, copper wires, semi-treated wax, medical devices, syringes, valves, and wellheads. Companies from key service sectors such as waste management, healthcare, event solutions, educational technology, fintech solutions, F&B services, health tech solutions and ride hailing applications companies also marked their presence.
More than 150 Indian companies also participated in the Mission and explored new business opportunities and exchanged potential businesses ideas. fiinews.com
