India, Qatar deepen trade ties as Union Minister Piyush Goyal meets Qatari minister in Doha
Union Minister of Commerce and Industry Piyush Goyal met with Qatar’s Minister of State for Foreign Trade Affairs, Ahmed bin Mohammed Al-Sayed, in Doha on Tuesday, reaffirming India’s commitment to strengthening bilateral trade and investment relations with the Gulf nation.
The meeting follows up on discussions held in New Delhi in August, when Al-Sayed led a high-powered investment delegation to India.
Goyal expressed optimism about the growing economic engagement between the two countries, stating, “Glad to meet Ahmed bin Mohammed Al-Sayed. We recalled our discussions in New Delhi and look forward to continued engagement for increasing bilateral trade and investment ties.”
Goyal’s visit to Qatar coincides with the India-Qatar Joint Commission on Trade and Commerce, which he co-chaired alongside Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al Thani.
The two sides discussed the proposed India-Qatar Free Trade Agreement (FTA) and the Comprehensive Economic Partnership Agreement (CEPA), aiming to double bilateral trade from the current $14 billion to $28 billion by 2030.
India faces a significant trade deficit with Qatar, largely due to petroleum imports. However, Qatar has already invested $4 to 5 billion in India, with another $1.5 billion in the pipeline.
Goyal emphasised the potential for further collaboration in sectors such as manufacturing, AI, data centres, and financial services.
The Union Minister also launched India’s Unified Payments Interface (UPI) at Lulu Hypermarket in Doha, marking a milestone in digital connectivity between the two nations.
The visit underscores India’s strategic push to deepen economic ties with Gulf Cooperation Council (GCC) countries, with Qatar emerging as a key partner in the region.
