Quatar Is Going to invest 💲10 Billion dollar in India, Announced By Quatar Investment Authority

Quatar Is Going to invest 💲10 Billion dollar in India, Announced By Quatar Investment Authority.

Qatar Investment Authority plans to open an office in India and invest $10 billion.

The Qatar Investment Authority (QIA) decided to open an office in India and has announced a $10 billion investment, the Ministry of External Affairs (MEA) said in a statement.

Qatar and India have a strong relationship and given that the Indian economy is one of the fastest growing economies.

 India also welcomed the decision of Qatar Investment Authority (QIA) to open an office in India. 

Both sides expressed interest with the progress made by the Joint Task Force on Investments during its first meeting in June 2024.

Various avenues for investments in India were discussed, the statement by the MEA said.

Officials said that during their meeting, Prime Minister Narendra Modi and Amir of Qatar Sheikh Tamim Bin Hamad Al-Thani discussed the possibility of signing a bilateral free trade agreement in future.

Arun Kumar Chatterjee, also said India and the Gulf Cooperation Council (GCC) at this moment are negotiating about having an FTA.

India and the Gulf Cooperation Council, both sides are exploring the possibility of signing a free trade agreement in future. 

Important Investment Key points Discussed at Meeting.

• Qatar committed to invest USD 10 billion in India, different sectors such as infrastructure, technology, manufacturing, food security, logistics and hospitality.
• Qatar Investment Authority (QIA) will open an office in India.
• Both countries set a target to double bilateral trade by 2030.
• Discussion on expanding an India-Qatar Free Trade Agreement.
• Opening India’s UPI at Qatar National Bank (QNB) Point of Sales in Qatar.
• Qatar National Bank expands its presence in India with an office in GIFT City.

Prime Minister Narendra Modi and the Amir of Qatar discussed at Hyderabad House, agreeing to expand India-Qatar relation.

The discussions focused on key areas including trade, investments, technology, energy, and people-to-people ties, further solidifying the longstanding and strong relationship between the two nations.

Foreign Secretary Chatterjee stated that the leaders set an ambitious target to double bilateral trade from the current USD 14 billion to USD 28 billion over the next five years.