India-Qatar sign MoUs to expand business cooperation with focus on energy trade

Speaking at the inaugural session of the India-Qatar Business Forum in New Delhi, Commerce and Industry Minister Piyush Goyal welcomed the growing energy trade with the West Asian country while noting that the goal is to transition to new age technologies forming the bulwark of trade. The Minister said that India and Qatar have elevated their Joint Working Group on trade to the ministerial level.

The Minister was present along with his counterpart from Qatar Sheikh Faisal bin Thani bin Faisal Al Thani, where Memorandum of Understanding (MoUs) were signed between the Confederation of Indian Industry (CII) and Qatari Businessmen Association (QBA) and between Invest India and Invest Qatar. The MoUs aim to help expand business cooperation between India and Qatar, where the Minister noted that focus has been primarily on energy trade.

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In 2023, rice worth $154 million was the top exported commodity from India to Qatar, and the total exports from India to Qatar were worth $1.82 billion. In the same year, Qatar’s total exports to India were recorded at $12.9 billion, with petroleum gas worth $9.71 billion topping the list of exported commodities.

While the Minister invited companies from Qatar to be a part of India’s journey of growth in investments, manufacturing, renewable energy and infrastructure, he added that the synergy of Qatar Vision 2030 and India’s Viksit Bharat 2047 can create prosperity for people in both the countries.

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The Amir of Qatar Sheikh Tamim Bin Hamad Al-Thani, along with his officials arrived in India on a two-day a official visit on Monday, February 17.

His visit comes at the invitation of Prime Minister Modi. This would be the second state visit of the Amir of Qatar to India. He earlier visited India in March 2015, the MEA earlier said. The Amir is scheduled to meet President Droupadi Murmu and hold talks with Modi on Tuesday, February 18.