India and Qatar on Tuesday elevated their ties to a strategic partnership and agreed to double bilateral trade to almost $30 billion by 2030 as Prime Minister Narendra Modi and the Qatari Amir, Sheikh Tamim bin Hamad Al-Thani, focused on ways to enhance trade and energy cooperation.
The two leaders met to discuss bilateral relations and regional issues, including the Israel-Hamas conflict, shortly after Sheikh Tamim was accorded a ceremonial welcome by President Droupadi Murmu at Rashtrapati Bhavan. Modi personally received the Amir on his arrival in Delhi on Monday, signalling the importance attached by India to the bilateral relationship.
Modi said on X that he had a “very productive meeting with my brother”, Sheikh Tamim, who is “committed to a strong India-Qatar friendship”.
He added, “Trade featured prominently in our talks. We want to increase and diversify India-Qatar trade linkages.” The two sides can work closely in energy, technology, healthcare, food processing, pharmaceuticals and green hydrogen, he said.
Besides signing an agreement to upgrade ties, the two sides set a target for doubling annual trade, currently worth $14.08 billion, over the next five years. They also agreed to begin negotiations on a bilateral trade deal and to address market access issues related to trade in goods and services.
The Qatari side made a commitment to invest $10 billion in India. The Qatar Investment Authority, the country’s sovereign wealth fund, has so far invested about $1.5 billion in the country in sectors such as retail, power, IT and affordable housing.
Modi and Sheikh Tamim held wide-ranging talks at Hyderabad House and decided to focus on trade, investments, energy, technology and food security, external affairs ministry spokesperson Randhir Jaiswal said.
