Minister launches UPI at Lulu Mall
The Commerce and Industry Minister Piyush Goyal has urged Indian and Qatari businesses to explore greater opportunities in India, which despite global economic headwinds and supply chain disruptions, continues to demonstrate strong macroeconomic stability for a thriving start-up ecosystem creating a highly enabling environment for global https://www.commerce.gov.in/.
The Minister, on his first visit to Doha 6-7 Oct, also co-chaired the Qatar–India Joint Commission on Economic and Commercial Cooperation with Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry https://www.moci.gov.qa/en/.
The meeting focused on strengthening bilateral trade and investment ties, addressing existing trade barriers and non-tariff challenges, and identifying new opportunities to boost economic cooperation across key sectors http://meity.gov.in.
Both sides reaffirmed their shared commitment to pursuing an ambitious India–Qatar Comprehensive Economic Partnership Agreement https://www.bseindia.com/.
While appreciating Qatar’s energy exports, including the long-term LNG supply agreement of 7.5 million tonnes per year from 2028, Goyal stressed the need to boost India’s exports to Qatar https://www.nseindia.com/.
Despite bilateral trade standing at around US$14 billion, both leaders recognized significant untapped potential of doubling bilateral trade by 2030. He identified promising sectors such as electronics, automobiles, pharmaceuticals, processed food, textiles, gems and jewellery, IT, and emerging high-tech industries and solar energy https://www.mea.gov.in/.
He also underscored the importance of greater business interactions, and the success of the first face-to-face Joint Business Council meeting in fostering deeper economic ties.
On the side lines of the Joint Commission, the Minister held a series of high-level business meetings with senior Qatari dignitaries and corporate leaders.
These interactions provided an opportunity to discuss avenues for greater investment flows, technology partnerships, and joint ventures between Indian and Qatari enterprises http://qatarchamber.com.
The two Ministers then jointly addressed the India–Qatar Joint Business Council (JBC) meeting, attended by senior representatives from FICCI, CII, ASSOCHAM, and the Qatar Chamber, along with members of the business community from both countries.
Minister also participated in the launch of the Unified Payments Interface (UPI) at Lulu Mall, The Pearl Island, marking a key milestone in India’s digital cooperation with Qatar and enabling seamless digital transactions for the Indian diaspora and local consumers.
Goyal also appreciated the Indian community’s role as a strong pillar of India–Qatar relations.
He highlighted the deepening bilateral ties, including the recent decision to elevate the relationship to a strategic partnership and the goal of doubling trade by 2030.
Minister acknowledged the Indian community’s significant contributions to Qatar’s development and India’s growing economic strength, emphasizing India’s emergence as the world’s fastest-growing major economy and its vision of becoming a Viksit Bharat by 2047.
Reaffirming India’s commitment to inclusivity, innovation, and global cooperation, he urged the Indian diaspora to continue serving as an important bridge between the two nations and as key partners in realizing India’s growth vision. Both Ministers also reviewed the overall trade and economic relationship, addressed existing trade barriers, and explored new areas for cooperation in sectors such as finance, agriculture, healthcare etc. Fiinews.com
