Prime Minister Narendra Modi and Amir of Qatar Sheikh Tamim bin Hamad Al-Thani held “very productive” bilateral talks on Tuesday, marking a significant milestone by elevating India-Qatar relations to a Strategic Partnership. Both leaders agreed to double bilateral trade by 2030 and expand cooperation across various sectors.
Recalling the historic trade linkages and deep-rooted people-to-people ties, the leaders signed an Agreement on the Establishment of Bilateral Strategic Partnership, emphasizing growth in political, trade, investment, security, energy, culture, education, and technology sectors.
Key Highlights:
- Trade & Commerce:
- Target: Double the current USD 14 billion trade volume within five years.
- Joint Commission on Trade and Commerce: Upgraded from a working group to monitor economic ties.
- Bilateral Comprehensive Economic Partnership Agreement (CEPA): Talks to explore enhanced trade strategies.
- Investment:
- Qatar Investment Authority (QIA): Announced USD 10 billion investment in India.
- Plans for QIA to open an office in India and explore opportunities in infrastructure, technology, food security, and more.
- Technology & Financial Integration:
- India’s Unified Payment Interface (UPI) operational at QNB’s Points of Sale in Qatar with plans for nationwide acceptance.
- QNB’s expansion into India through an office at GIFT City welcomed.
- Energy & Security Cooperation:
- Commitment to enhance cooperation in energy infrastructure and bilateral investments.
- Joint efforts to tackle terrorism, cybersecurity threats, and transnational crimes.
- Cultural & People-to-People Ties:
- Plans to celebrate the India-Qatar Year of Culture, Friendship and Sports soon.
Statements from Leaders:
PM Modi described the meeting as “special,” highlighting the strengthening friendship:
“Had a very productive meeting with my brother, Amir of Qatar. Trade featured prominently—we aim to diversify sectors like energy, healthcare, green hydrogen, and technology.”
Amir Sheikh Tamim praised India’s economic progress and reiterated Qatar’s commitment to deepening cooperation.
Moving Forward:
Both nations agreed to maintain regular high-level exchanges, facilitate joint business ventures, and enhance food security collaborations. With strengthened economic ties and mutual investments, the India-Qatar Strategic Partnership is poised to unlock significant growth and cooperation opportunities in the coming years.