The President of India, Droupadi Murmu hosts a banquet in honour of the Amir of the State of Qatar, Sheikh Tamim Bin Hamad AL Thani at Rashtrapati Bhavan, in New Delhi on February 18, 2025.
New Delhi: Qatar and India today signed an ‘Agreement on the Establishment of Bilateral Strategic Partnership’ between the two sides during the State visit of the Amir of the State of Qatar, Sheikh Tamim bin Hamad Al-Thani, who paid a State Visit to India on February 17-18, 2025.
In light of the newly established Strategic Partnership, the two sides 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.
In this regard, both countries signed a revised Double Taxation Avoidance Agreement and also agreed to expedite negotiations on the India-Qatar Bilateral Investment Treaty.
Further, the existing Joint Working Group on Trade and Commerce into a Joint Commission on Trade and Commerce was elevated and now 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.
Both countries agreed on the need to explore strategies for enhanced and diversified trade between the two countries and address on priority market access issues related to trade in goods and services. In this regard, they agreed to explore the possibility of entering into a bilateral Comprehensive Economic Partnership Agreement. Both sides set the target to double bilateral trade by 2030.
Qatar and India have a strong strategic relationship and given that the Indian economy is one of the fastest growing economies, the Indian side welcomed the decision of Qatar Investment Authority (QIA) to open an office in India. Both sides expressed satisfaction with the progress made by the Joint Task Force on Investments during its first meeting in June 2024, where various avenues for investments in India were discussed.
The following documents were signed/exchanged during the visit, which will further deepen the multifaceted bilateral relationship as well as open avenues for newer areas of cooperation:
· Agreement on the 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
· MoU between Confederation of Indian Industry and Qatari Businessmen Association
Qatar 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. Both sides emphasized the importance of deepening cooperation between investment authorities, financial institutions, and businesses to explore new opportunities for investment and trade expansion.
The two sides welcomed the operationalization of India’s Unified Payment Interface (UPI) in QNB’s Points of Sales in Qatar and looked forward to implement nation-wide roll-out of UPI acceptance in Qatar. They agreed to explore settlement of bilateral trade in respective currencies. QNB’s expansion is also welcomed in India through setting up of an office in GIFT City.
The Indian side expressed interest in enhancing exports of Indian pharmaceutical products and medical devices to Qatar. Both sides also expressed their desire to facilitate the registration of national companies and pharmaceutical products.
The Indian side thanked the Qatari side 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 on September 9, 2024, under Qatar’s Chairmanship. The two sides welcomed the outcomes of the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue. Qatar side assured full support for deepening of the India-GCC cooperation under the recently adopted Joint Action Plan.
I may be mentioned that at the invitation of Prime Minister of India Narendra Modi, the Amir of the State of Qatar, Sheikh Tamim bin Hamad Al-Thani paid a State Visit to India on 17-18 February 2025. He was accompanied by a high-level delegation comprising Ministers, officials and business leaders. This was the second State Visit of the Amir to India.
– global bihari bureau
