With the goal of doubling bilateral trade by 2030, Qatar pledged to invest $10 billion USD in India following the visit of Sheikh Tamim Bin Hamad Al Thani, the Amir of Qatar.
The investment will focus on industries like manufacturing, technology, and infrastructure. Qatar is also looking into ways to boost its investments in logistics, hospitality, and food security. The Qatar Investment Authority (QIA) will establish an office in India to help with this.
India and Qatar are talking about a possible free trade agreement and hope to boost their yearly trade to $28 billion in the next five years. Imports of liquefied natural gas from Qatar were part of the $18.77 billion in bilateral trade between India and Qatar in the fiscal year that ended in March 2023. More than 48% came from Qatar.
of that year’s LNG imports into India. Currently, $15 billion is traded annually between the two nations.
In order to improve collaboration in trade, investment, energy, and culture, India and Qatar have inked a Strategic Partnership Agreement. Five Memorandums of Understanding (MoUs) to improve collaboration in youth, sports, finance, and cultural exchanges were also signed by them.
Through reciprocal investments in energy infrastructure, the two nations will seek to strengthen their bilateral energy cooperation. The long-term LNG supply contract between QatarEnergy and Petronet LNG of India was extended until 2048.
Qatar’s USD 10 billion technology-focused investment in India could have a big impact on the regional tech sector.
It is anticipated that the investment will strengthen industries like semiconductors, the Internet of Things, quantum computing, and artificial intelligence. Investments from Qatar have the potential to stimulate innovation and assist India’s expanding startup scene.
Digital payments and financial inclusion can be improved by initiatives such as the operationalization of India’s Unified Payment Interface (UPI) in Qatar. The investment promotes cooperation and knowledge and skill sharing between Indian and Qatari companies.
The investment’s emphasis on technology can contribute to the diversification of India-Qatar’s economic ties beyond conventional energy trade. The development of technology and financial hubs may be aided by investment flowing into places like Gujarat International Finance Tech-City (GIFT City).
Qatar’s investment supports economic growth and development in India by increasing foreign direct investment.
It is anticipated that Qatar’s investment, when paired with programs like India’s National Quantum Mission, will establish India as a key partner for quantum computing technology development.
