New Delhi, Feb 18 (TSIT) India and Qatar decided to elevate their ties to a Strategic Partnership with focus on trade, energy and investments, and double their trade in the next five years, during the talks between Prime Minister Narendra Modi and visiting Amir of Qatar Sheikh Tamim Bin Hamad Al Thani here today.
During their talks, held at Hyderabad House, PM Modi and the Amir recalled the historic trade linkages between the two nations, the deep-rooted people to people ties and the robust bilateral ties. They expressed their desire for further deepening of the multi-faceted relations, Secretary CPV & OIA Arun Kumar Chatterjee told the media at a briefing. The two sides inked two agreements and five MoUs.The two sides inked an agreement to elevate their ties to strategic partnership, with trade, innovation and energy as the main focus, the official said. While bilateral trade is at $14 billion, they have targeted to double it by 2030. The Qatar sovereign wealth fund, Qatar Investment Authority, has invested $1.5 billion in FDI in India, in sectors like retail, power, IT, affordable housing. Newer areas have been identified for the wealth fund to invest in, including ports, infrastructure, energy, food parks, startups, AI and robotics, Chatterjee said.
During the talks, PM Modi appreciated the Amir for bringing top Qatari businesspersons for the visit. In February 2024 Qatar Energy and Petronet India had inked an agreement for providing 7.5 million LNG per annum to India for 20 years from 2028.
- Admin
