Strengthened India-Qatar Strategic Partnership, Anticipates Significant Boost in Trade and Investment
The Federation of Indian Export Organizations (FIEO) warmly welcomes the
enhanced strategic partnership between India and Qatar, following the
State Visit of His Highness the Amir of the State of Qatar, Sheikh Tamim
bin Hamad Al-Thani, to India. This landmark
development sets the stage for deeper economic cooperation, paving the
way for increased trade and investment flows between the two nations,
said Mr Ashwani Kumar, President, FIEO.
Highlighting the key outcomes of the visit, Mr Kumar emphasized that the
strengthening of bilateral ties will create new opportunities for
Indian exporters and businesses. Some of the most significant
developments include:
(a) Establishment of a Bilateral Strategic Partnership: This agreement
lays a strong foundation for expanded cooperation in trade, investment,
energy, and technology, providing Indian exporters with new avenues for
growth.
(b) Target to Double Bilateral Trade by 2030: The ambitious commitment
to significantly enhance trade volumes signals a robust and positive
trajectory for Indian businesses engaged with Qatar.
(c) Elevation of the Joint Working Group to a Joint Commission on Trade
and Commerce: This upgraded framework will facilitate more effective
dialogue, address trade-related concerns, and foster a business-friendly
environment.
(d) Exploration of a Comprehensive Economic Partnership Agreement
(CEPA): The commitment to discussing a CEPA reflects a long-term vision
for deeper economic integration, potentially unlocking substantial
benefits for Indian exporters.
(e) Qatar Investment Authority’s Pledge to Invest USD 10 Billion in
India: This significant investment will bolster economic activity,
create new business opportunities, and strengthen collaboration between
Indian and Qatari enterprises.
(f) Operationalization of India’s Unified Payment Interface (UPI) in
Qatar: The integration of UPI in Qatar will streamline financial
transactions, making cross-border trade more seamless and efficient.
(g)Strengthening Business Collaborations: Greater engagement between
industry bodies, including the Joint Business Council and Joint Business
Forum, will enhance business-to-business partnerships and promote
trade.
Commenting on these developments, Mr Ashwani Kumar stated, “The outcomes
of this high-level visit are extremely promising for India’s exporting
community. The commitment to doubling bilateral trade, coupled with
Qatar’s significant investment pledge and initiatives
to improve trade facilitation, creates a conducive environment for
Indian businesses to expand their footprint in Qatar.”
FIEO remains committed to working closely with its members and
stakeholders to leverage these opportunities and contribute towards
achieving the ambitious trade targets set by both governments. Mr Kumar
expressed confidence that the enhanced economic cooperation
between India and Qatar will not only boost bilateral trade and
investment but also contribute to the long-term growth and prosperity of
both nations.
