Want to increase and diversify India-Qatar trade linkages, says PM Modi after ‘productive’ talks with ‘brother’ Sheikh Al Thani
New Delhi, Feb 18 (IANS) As they announced to elevate the ties to a strategic partnership, India and Qatar on Tuesday also expressed happiness at the signing of the revised Double Taxation Avoidance Agreement and expediting negotiations on the India-Qatar Bilateral Investment Treaty.
During their comprehensive talks held at Hyderabad House, Prime Minister Narendra Modi and the Amir of the State of Qatar, Sheikh Tamim bin Hamad Al-Thani reaffirmed their commitment to further strengthen the bilateral relations through regular and structured cooperation in all areas, including political, trade, investment, security, energy, culture, education, technology, innovation, sustainability and people-to-people ties.
“Had a very productive meeting with my brother, Amir of Qatar H.H. Sheikh Tamim Bin Hamad Al Thani, earlier today. Under his leadership, Qatar has scaled new heights of progress. He is also committed to a strong India-Qatar friendship. This visit is even more special because we have elevated our ties to a Strategic Partnership,” PM Modi posted on X after the banquet reception hosted in honour of the Amir and accompanying delegation by President Droupadi Murmu at the Rashtrapati Bhawan.
“Trade featured prominently in our talks. We want to increase and diversify India-Qatar trade linkages. Our nations can also work closely in sectors like energy, technology, healthcare, food processing, pharma and green hydrogen,” he added.
Recalling the successful visit of the Amir to India in March 2015 and the visits of Prime Minister Modi to Qatar in June 2016 and February 2024, the two sides noted with satisfaction that regular interactions at various levels have helped provide momentum to the multifaceted bilateral cooperation. The high-level exchanges, they announced, would continue through regular bilateral mechanisms at ministerial and senior-official levels.
“The two sides noted that trade and commerce has been a strong pillar of bilateral economic cooperation between the two countries and emphasised on the potential for further growth and diversification in bilateral trade. The two sides welcomed the elevation of the existing Joint Working Group on Trade and Commerce into a Joint Commission on Trade and Commerce. The Joint Commission will be an institutional mechanism to review and monitor the entire spectrum of economic ties between the two countries and will be headed by the Ministers of Commerce and Industry on both sides,” an India-Qatar Joint Statement issued on Tuesday evening detailed.
The first meeting of the Joint Business Council, which would strengthen collaborations between business and industry bodies of the two countries, will be held on February 13.
The Qatar side commended the steps taken by India in making a conducive environment for Foreign Direct Investment and Foreign Institutional Investment and expressed interest to explore investment opportunities in different sectors, including infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual interest.
“In this regard, the Qatar side announced a commitment to invest USD 10 billion in India. The Indian side also appreciated Qatar’s efforts in enhancing its investment environment and its initiatives to attract Foreign Direct Investment. India also recognized Qatar’s growing role as a regional hub for goods and services, leveraging its strategic location, world-class infrastructure, and business-friendly policies,” read the Joint Statement.
The two sides also acknowledged that the centuries old people-to-people ties represent a fundamental pillar of the historic India-Qatar relationship.
“The Qatari leadership expressed deep appreciation for the role and contribution made by the Indian community in Qatar for the progress and development of their host country, noting that Indian citizens in Qatar are highly respected for their peaceful and hard-working nature. The Indian side conveyed deep appreciation to the leadership of Qatar for ensuring the welfare and well-being of this large and vibrant Indian community in Qatar. The Qatar side welcomed the extension of e-visa facility by India to Qatari nationals.”
The Indian side also thanked Qatar for its support to the growing India-GCC cooperation and for facilitating the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue at the level of Foreign Ministers held in Riyadh last September under Qatar’s Chairmanship.
Following the talks between the two leaders, agreements were signed on establishment of bilateral strategic partnership; revised agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and its protocol; MoU between Ministry of Finance, India and Ministry of Finance, Qatar on financial and economic collaboration; MoU on cooperation in field of youth and sports; MOU for cooperation in the field of documents and archives; MoU between Invest India and Invest Qatar; and, a MoU between Confederation of Indian Industry and Qatari Businessmen Association.
Earlier in the day, the Amir was received by President Murmu and Prime Minister Modi at the forecourt of Rashtrapati Bhawan and accorded a ceremonial welcome.
The visiting leader was accompanied by a high-level delegation comprising ministers, officials and business leaders on his second State Visit to India.
–IANS
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