The India-Qatar Joint Business Forum was held on Tuesday in New Delhi, coinciding with the visit of Sheikh Tamim bin Hamad bin Khalifa Al Thani, Amir of Qatar. Organized by the Confederation of Indian Industry (CII) in partnership with the Department for Promotion of Industry and Internal Trade (DPIIT), the forum focused on expanding economic collaboration between the two nations.
Union Minister Piyush Goyal, in his address at the inaugural session, outlined India’s ambition to become a USD 30-35 trillion economy by 2047. He said that while energy trade remains a critical part of India-Qatar relations, future growth lies in areas such as artificial intelligence, quantum computing, the Internet of Things, and semiconductors.
He also invited Qatari businesses to explore investment opportunities in India, particularly in the Gujarat International Finance Tech-City (GIFT City), and proposed the establishment of a Joint Working Group to identify mutual sectors of interest.
Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry, State of Qatar, underscored the enduring relationship between India and Qatar, which has seen India emerge as Qatar’s third-largest trading partner. He called for increased investment opportunities between the two countries, particularly in Qatar’s expanding economy and infrastructure.
India’s economic growth was also highlighted by Union Minister of State for Commerce and Industry Jitin Prasada, who pointed to the USD 709 billion in foreign direct investment India has attracted over the last decade. He emphasized India’s leadership in technology, with over 155,000 startups across various industries.
Prasada also mentioned the role of digital initiatives, like India Stack, in advancing financial inclusion and expanding access to digital services. The partnership between Qatar National Bank (QNB) and the National Payments Corporation of India (NPCI) is one such initiative, aiming to enhance digital payments through QR Code-based UPI transactions.
Dr. Ahmad Al-Sayed, Minister of State for Foreign Trade Affairs, Qatar, stressed the need for further diversification of collaboration beyond the energy sector. He pointed to growing opportunities in electric vehicles, manufacturing, and non-oil industries. Qatar’s efforts, including the Qatar Financial Centre (QFC) and Qatar Science & Technology Park, were also highlighted as part of the country’s broader strategy to foster business and innovation.
With bilateral trade exceeding USD 15 billion in the fiscal year 2023-24, investment flows between India and Qatar are increasing, with Qatar now ranking among the top three GCC investors in India. To build on this momentum, two Memorandums of Understanding (MoUs) were signed between CII and the Qatar Business Association, as well as between Invest India and Invest Qatar.
Sanjiv, Joint Secretary of DPIIT, emphasized the importance of the India-Qatar business delegation in fostering stronger ties, and invited Qatari participation in the Startup India Mahakumbh 2025, scheduled for April 3-5.
