India-Qatar to Double Trade to $28B by 2030

India and Qatar have decided to upgrade their bilateral relations to a strategic partnership, strengthening cooperation in trade, investment, and energy. This decision was taken during the two-day visit of Qatari Amir Sheikh Tamim Bin Hamad Al Thani to India. Both nations aim to double bilateral trade from the current $14.08 billion to $28 billion over the next five years. Additionally, Qatar has expressed interest in expanding investments in India’s key sectors.

Key Highlights of the India-Qatar Partnership

Bilateral Trade & Investment Goals

• India and Qatar plan to double bilateral trade from $14.08 billion to $28 billion within five years.
• Discussions focused on trade, investment, energy, and economic collaboration.
• India’s trade ties with Qatar extend beyond liquefied natural gas (LNG) and liquefied petroleum gas (LPG), for which Qatar is India’s largest supplier.
• The strategic partnership aligns Qatar with UAE, Saudi Arabia, Oman, and Kuwait, which have similar ties with India.

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Qatar Investments in India

The Qatar Investment Authority (QIA) has already invested $1.5 billion in India across sectors such as,

• Retail
• Power
• Information Technology
• Education & Healthcare
• Affordable Housing

Areas identified for further Qatari investment include,

• Infrastructure & Ports
• Shipbuilding
• Renewable Energy & Smart Cities
• Food Parks & Startups
• New Technologies (AI, Robotics, Machine Learning)
• A joint business forum was held with Qatari business leaders to boost investment opportunities.

Agreements Signed

• A revised Double Taxation Avoidance Agreement (DTAA) was signed.

Agreements on,

• Economic partnership
• Cooperation in archives & documentation
• Youth affairs & sports
• Invest India signed an MoU with its Qatari counterpart to enhance investment facilitation.

Free Trade Agreement (FTA) Discussions

• India is exploring the possibility of an FTA with Qatar.
• Parallel negotiations are ongoing for an FTA with the Gulf Cooperation Council (GCC), which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.

Indians in Qatari Prisons & Legal Issues

• 600 Indians are currently imprisoned in Qatar.
• Eight former Indian Navy personnel were sentenced to death in 2023 on espionage charges. The sentence was later commuted, and seven have returned to India, while one remains in Qatar.
• In 2023, 85 Indians were pardoned by Qatari authorities.
• A pending agreement on the transfer of sentenced persons is awaiting ratification by Qatar.

Global & Regional Discussions

Talks included key geopolitical issues such as,

• The ongoing war in Gaza
• The situation in Afghanistan
• Other major international developments
• This strategic partnership is expected to enhance economic cooperation, attract investments, and strengthen diplomatic relations between India and Qatar.