Qatar Welcomes Indian Companies to Tap Investment Potential
Qatar has invited Indian investors to take advantage of the increasing investment potential in the Gulf state's fast-growing economy and infrastructure. Qatar's Commerce and Industry Minister Sheikh Faisal bin Thani bin Faisal Al Thani spoke at the joint business forum on Tuesday, highlighting the age-old, mutually respectful relationship between Qatar and India. He said that this relationship has surpassed mere trade to become a tradition of mutual interests and a strong belief in strengthening economic collaboration.
"India is now Qatar's third-largest trade partner, and India-Qatar trade agreement has been thriving over the years. Qatar is still a dynamic, multicultural, and investor-friendly place", Sheikh Faisal said in his speech.
Further expounding on the potential of the future, Qatar's Minister of State for Foreign Trade Affairs, Ahmad Al-Sayed, emphasized the special opportunity for India and Qatar to evolve according to the changing global trade dynamics. He explained that both countries need to prioritize developing their cooperation beyond the conventional energy sector. Particularly, he referred to nascent sectors like electric vehicles (EVs), manufacturing, and non-oil & gas sectors as areas for investigation.
Al-Sayed also highlighted the significance of Qatar's flagship project, the Qatar Financial Centre (QFC), designed to lure companies and attract private equity investments. He further said that Qatar's strategic location provides unmatched access to global markets, and therefore, it is a good destination for investors worldwide. Qatar Science & Technology Park is also a cornerstone for research and development, while Media City is designed to attract leading media firms. In addition, the Qatar Free Zone is tailored to promote investment in different sectors.
The panelists at the joint business forum touched on areas where collaboration could take place, such as high-quality solar grid polysilicon production. Given India's digitalization expertise and Qatar's vision of digital transformation, the forum showcased India's pivotal role to provide technology and scale to support Qatar's digitalization. The deliberations reaffirmed India's status as a gateway to South Asia and Qatar as a hub at the center of the Middle East region.
The India-Qatar Joint Business Forum saw business leaders, policymakers, and industry experts come together to identify new areas of cooperation in relevant sectors. The two-way trade between the two countries exceeded $15 billion in FY 2023-24, with Qatar becoming one of the top three investors from the GCC region in India. Yet, speakers highlighted that there remains a huge untapped potential, especially in strategic sectors.
Two Memorandums of Understanding (MoUs) were inked at the forum to enhance this emerging partnership. One MoU was inked between the Confederation of Indian Industry (CII) and the Qatar Business Association, and the other was inked between Invest India and Invest Qatar. These MoUs seek to facilitate business cooperation, promote investment flows, and enhance long-term collaboration in areas of common interest.
Sanjiv, Joint Secretary of DPIIT, greeted the Qatar-India business delegation, emphasizing that their interaction would spur closer collaboration between the two countries. He also confirmed Qatar's involvement in the forthcoming Startup India Mahakumbh 2025 on April 3-5, 2025. The event will facilitate closer startup collaborations and bring Qatari investments into India's technology and innovation landscape.
CII President Sanjiv Puri emphasized key sectors for economic cooperation, including energy security, agriculture, startups, and skill development. He further acknowledged Qatar’s critical role in India’s energy landscape and expressed CII’s commitment to facilitating partnerships between Indian and Qatari entities as both nations work toward achieving their renewable energy goals.
The occasion also witnessed speeches by the Chairman of the Board of Directors of Qatar Chamber of Commerce and Industry, Sheikh Khalifa bin Jassim Al Thani, and the Board Member of the Qatari Businessmen Association, Sheikh Hamad Bin Faisal Al Thani. Their speeches reiterated the strengthening relationship between India and Qatar and their common vision for a prosperous future.
