Qatar announces to invest $10 billion in India

Published on Authored by C to I News Desk
PM Narendra Modi meets Qatar Amir Sheikh Tamim Bin Hamad Al Thani at Hyderabad House in New Delhi on February 18. Photo Courtesy: PIB

Qatar has announced it will invest USD 10 billion in India across various sectors, as per the joint statement issued by the two nations on Tuesday during the visit of the Gulf country’s Amir Sheikh Tamim bin Hamad Al-Thani to New Delhi.

According to the statement, Qatar commended the steps taken by India in making a conducive environment for Foreign Direct Investment and Foreign Institutional Investment and expressed interest to explore investment opportunities in different sectors, including infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual interest.

“The Indian side also appreciated Qatar’s efforts in enhancing its investment environment and its initiatives to attract Foreign Direct Investment,” the statement said.

India and Qatar set the target to double bilateral trade by 2030, the joint statement said.

“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 implementing nation-wide roll-out of UPI acceptance in Qatar,” the statement said.

The two nations agreed to explore settlement of bilateral trade in respective currencies.

Indian PM Narendra Modi met Qatar’s Amir in New Delhi on Tuesday.

The Amir visited India at the invitation of Modi.

What did Modi say after the meeting?

Narendra Modi said he had a ‘productive meeting’ with the Amir.

“Had a very productive meeting with my brother, Amir of Qatar H.H. Sheikh Tamim Bin Hamad Al Thani, earlier today. Under his leadership, Qatar has scaled new heights of progress. He is also committed to a strong India-Qatar friendship. This visit is even more special because we have elevated our ties to a Strategic Partnership,” Modi wrote on X.

Modi said India and Qatar have decided to diversify trade linkages.

He said: “Trade featured prominently in our talks. We want to increase and diversify India-Qatar trade linkages. Our nations can also work closely in sectors like energy, technology, healthcare, food processing, pharma and green hydrogen.”