New Delhi-Doha to expedite Investment Treaty negotiations
India and Qatar have agreed to explore the possibility of entering into a bilateral Comprehensive Economic Partnership Agreement and set a target to double bilateral trade by 2030 https://www.commerce.gov.in/.
Qatar has announced a commitment to invest US$10 billion in India and explore opportunities in different sectors, including infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual interest https://www.investindia.gov.in/.
The Qatar Investment Authority (QIA) is to open an office in India, building on the strong strategic relationship between the two countries, said a joint statement on 18 Feb following the Amir of the State of Qatar, Sheikh Tamim bin Hamad Al-Thani, State Visit to India on 17-18 Feb https://fieo.org/.
These were the highpoints of talks held by Prime Minister Narendra Modi with the HH Amir https://www.gco.gov.qa/en/.
During the talks, the leaders expressed happiness on the signing of the ‘Agreement on the Establishment of Bilateral Strategic Partnership’ between the two sides.
The newly established Strategic Partnership is to further strengthen the bilateral relations through regular and structured cooperation in all areas, including political, trade, investment, security, energy, culture, education, technology, innovation, sustainability and people-to-people ties https://sbi.com.in/.
The leaders were also satisfied with the revised Double Taxation Avoidance Agreement while agreeing to expedite negotiations on the India-Qatar Bilateral Investment Treaty https://www.nseindia.com/.
They welcomed the elevation of the existing Joint Working Group on Trade and Commerce into a Joint Commission on Trade and Commerce https://www.bseindia.com/.
The Joint Commission will be an institutional mechanism to review and monitor the entire spectrum of economic ties between the two countries and will be headed by the Ministers of Commerce and Industry on both sides.
They also laid emphasis on strengthening collaborations between their business and industry bodies. In this context, the first meeting of the Joint Business Council was held on 13 February 2025.
India also recognized Qatar’s growing role as a regional hub for goods and services, leveraging its strategic location, world-class infrastructure, and business-friendly policies.
Recognizing the pivotal role of businesses in driving economic growth, the leaders emphasized the importance of trade exhibitions as a strategic platform for promoting commercial partnerships, increasing and diversifying bilateral trade, and facilitating investments.
In pursuit of these objectives, the leaders will strengthen collaboration between their export promotion agencies to support enterprises in identifying opportunities, addressing market challenges, and increasing participation in international trade exhibitions.
This initiative will enable businesses from both nations to showcase their products, explore joint ventures, and establish sustainable commercial ties.
The two sides welcomed the operationalization of India’s Unified Payment Interface (UPI) in QNB’s Points of Sales in Qatar and looked forward to implement nation-wide roll-out of UPI acceptance in Qatar. They agreed to explore settlement of bilateral trade in respective currencies. QNB’s expansion is also welcomed in India through setting up of an office in GIFT City.
The Indian side expressed interest in enhancing exports of Indian pharmaceutical products and medical devices to Qatar. Both sides also expressed their desire to facilitate the registration of national companies and pharmaceutical products.
The leaders expressed interest in pursuing deeper collaboration in technology and innovation, including emerging technologies, startups, and Artificial Intelligence. They discussed avenues for furthering e-Governance and sharing best practices in the digital sector. Both sides welcomed the participation of Indian startups in Web Summits in Doha, Qatar in 2024-25.
The following documents were signed/exchanged during the visit, which will further deepen the multifaceted bilateral relationship as well as open avenues for newer areas of cooperation:
Agreement on the Establishment of Bilateral Strategic Partnership;
Revised Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and its Protocol;
MoU between Ministry of Finance, India and Ministry of Finance, Qatar on Financial and Economic Collaboration;
MoU on Cooperation in Field of Youth and Sports;
MOU for Cooperation in the field of Documents and Archives;
MoU between Invest India and Invest Qatar;
MoU between Confederation of Indian Industry and Qatari Businessmen Association. Fiinews.com
