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Qatar’s decision to invest $10 billion in India marks a significant step toward strengthening economic ties between the two nations. This investment will focus on crucial sectors such as infrastructure, technology, manufacturing, and food security, paving the way for enhanced bilateral cooperation. The Qatar Investment Authority’s plan to establish an office in India highlights a long-term commitment to fostering business growth. With India and Qatar also exploring a potential Free Trade Agreement, economic engagement between the two countries is set to deepen, benefiting industries and boosting employment opportunities.
Beyond investment, both nations have elevated their trade relations by upgrading the Joint Working Group on Trade and Commerce to a full-fledged Joint Commission. This move is expected to facilitate streamlined trade discussions and policies, aiming to double the current trade volume of $15 billion to $28 billion by 2030. The operationalization of India’s digital payment system, UPI, at Qatar National Bank further signifies an evolving financial partnership, making transactions more seamless for businesses and consumers. Moreover, agreements on tax avoidance and strategic partnerships signal a broader diplomatic alignment between the two nations.
The partnership extends beyond economics, as both leaders strongly condemned terrorism and pledged greater cooperation in intelligence-sharing and crime prevention. With Qatar being India’s largest supplier of LNG and LPG, energy security remains a key pillar of the relationship. The presence of major Indian companies in Qatar, including Larsen & Toubro and Wipro, reflects deep-rooted business ties.
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(Source: News.az)
