Bilateral relations between India and Qatar have reached new heights. During the recent visit of the Emir of Qatar, His Highness Sheikh Tamim bin Hamad Al Thani to India, the two nations signed a number of important agreements to expand trade, investment, energy, and cultural cooperation. Qatar has announced investments worth US$10 billion (about Rs 83,000 crore) in India, focused on infrastructure, technology, and manufacturing sectors. India and Qatar aim to double their bilateral trade by 2030 and are considering a possible free trade agreement (FTA).
In the same context, India’s digital payment system UPI will also be launched in Qatar, which is to be implemented on the point of sale (POS) system of Qatar National Bank (QNB). This will provide convenience in payments to Indian tourists and businesses. Most importantly, Qatar National Bank is going to open a new office in Gujarat International Finance Tec-City (GIFT City) to increase its presence in India.
In the energy sector, India and Qatar have decided to deepen investments in oil and gas trade, which will strengthen India’s energy security. Also, it has been decided to extend e-visa facility for Qatari citizens.
To enhance friendship in cultural and sports fields, the two countries have decided to organize the ‘Year of Culture, Friendship and Sports’, which will promote cultural exchanges and sports events, with special benefit to the youth.