New Delhi (TDI): Qatar has committed to investing $10 billion in India in different sectors, the two countries said in a joint statement on Tuesday, after Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani visited New Delhi.
Indian Prime Minister Narendra Modi said he had a “very fruitful meeting” with Qatar’s Emir, who was on a two-day trip to New Delhi.
“Trade featured prominently in our discussions. We want to increase and diversify the trade relations between India and Qatar,” Modi said in a statement.
It was the first such trip by a Qatari Emir to India in 10 years.
According to the statement, Qatar will pour $10 billion in India in infrastructure, manufacturing, food security, technology, logistics, hospitality and other fields.
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The two nations are committed to double their annual trade to $28 billion in the next 5 years.
India and Qatar are exploring the signing of a free trade deal, according to the Indian foreign ministry.
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Bilateral trade between India and Qatar reached at $18.77 billion in the fiscal year that ended in March 2023.
