Qatar Pledges USD 10 Bn Investment In India In Infrastructure, Technology, Manufacturing, Food Security and Hospitality

New Delhi, Feb 19 (KNN) India and Qatar have elevated their bilateral relationship to a strategic partnership following high-level talks between Indian Prime Minister Narendra Modi and Qatar's Amir Sheikh Tamim bin Hamad Al-Thani.

The landmark meeting yielded significant economic commitments, with Qatar pledging a USD 10 billion investment in India and announcing plans to establish a Qatar Investment Authority office in the country.

The leaders outlined ambitious plans to double their current bilateral trade of USD 14 billion within the next five years. The summit resulted in seven agreements, including a revised double taxation avoidance agreement and enhanced financial cooperation.

Both nations agreed to expedite negotiations for a bilateral investment treaty, marking India's fifth strategic partnership with a Gulf Cooperation Council member, alongside existing agreements with the UAE, Saudi Arabia, Oman, and Kuwait.

They also agreed to enhance collaboration in intelligence sharing, cybersecurity, anti-money laundering, and transnational crime prevention. The leaders also discussed strengthening measures against the use of cyberspace for terrorism and radicalisation.

On the economic front, Qatar expressed interest in exploring investment opportunities across various Indian sectors, including infrastructure, technology, manufacturing, food security, and hospitality.

India acknowledged Qatar's emergence as a regional hub for goods and services, citing its strategic location and business-friendly policies.

The nations also agreed to establish Joint Ministerial Commissions, implement India's UPI payment system in Qatar, and extend e-Visa facilities for Qatari nationals.

(KNN Bureau)