Qatar To Infuse $10 Billion In India

India-West News Desk

NEW DELHI – Qatar has pledged to invest $10 billion in India across multiple sectors, according to a joint statement released on February 18 following the visit of Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani to New Delhi.

This marks the first visit by a Qatari Emir to India in a decade, the last one being in 2015. Indians make up the largest expatriate community in Qatar, with over 835,000 Indian nationals residing there. India is also among the top three largest export destinations for Qatar.

In a sign of things to come and in a departure from tradition, Prime Minister Narendra Modi personally welcomed Emir Al-Thani at the New Delhi airport, accompanied by a grand ceremony. PM Modi went further, posting on social media, “Went to the airport to welcome my brother, Amir of Qatar H.H. Sheikh Tamim Bin Hamad Al-Thani.”

External Affairs Minister S. Jaishankar was also present to greet Al-Thani, who last visited India in March 2015.

The investment will target infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas. Additionally, both nations aim to double their annual trade to $28 billion within five years and are considering a free trade agreement.

Bilateral trade reached $18.77 billion in the fiscal year ending March 2023, primarily driven by liquefied natural gas imports from Qatar, which accounted for over 48% of India’s LNG imports that year. (with ANI inputs)