Finance
Union Minister of Commerce and Industry Piyush Goyal met with Qatar’s Minister of State for Foreign Trade Affairs, Ahmed bin Mohammed Al-Sayed, in Doha on Tuesday, reaffirming India’s commitment to boosting bilateral trade and investment ties with the Gulf country.
The meeting builds on conversations held in New Delhi in August, when Al-Sayed led a powerful investment group to India.
Goyal expressed confidence about the two countries’ burgeoning economic interaction, writing, “Glad to meet Ahmed bin Mohammed Al-Sayed. We recalled our discussions in New Delhi and look forward to ongoing collaboration to strengthen bilateral trade and investment links.”
Goyal’s trip to Qatar coincides with the India-Qatar Joint Commission on Trade and Commerce, which he co-chairs with Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al Thani.
The two sides reviewed the proposed India-Qatar Free Trade Agreement (FTA) and Comprehensive Economic Partnership Agreement (CEPA), which aim to quadruple bilateral trade from $14 billion to $28 billion by 2030.
India has a high trade deficit with Qatar, primarily due to petroleum imports. However, Qatar has already invested $4 to $5 billion in India, with an additional $1.5 billion on the way.
Goyal emphasized the possibility for future collaboration in industries such as manufacturing, artificial intelligence, data centers, and financial services.
The Union Minister also launched India’s Unified Payments Interface (UPI) at Lulu Hypermarket in Doha, marking a watershed moment in digital connectivity between the two countries.
The visit reflects India’s deliberate aim to strengthen commercial ties with Gulf Cooperation Council (GCC) countries, with Qatar emerging as a prominent player in the region.
Source: IANS
