During a meeting with Her Excellency Mrs. Nirmala Sitharaman, Minister of Finance and Corporate Affairs of the Republic of India, and her accompanying delegation, the Qatari Businessmen Association discussed ways to enhance economic and investment relations between Qatar and India, and expand the horizons of cooperation between the private sectors in the two countries.
The two sides reviewed the available investment opportunities and promising sectors that could constitute areas of partnership and cooperation during the next stage, as well as ways to increase and diversify bilateral trade, enhance mutual investments, and encourage Qatari and Indian companies to establish partnerships and projects that benefit from the great economic and investment potential in the two countries.
Her Excellency Ms. Nirmala Sitharaman said: “India represents a strategic market for the Qatari investor due to its economic size and a broad industrial and technological base.”
She pointed out that Qatar, in return, provides an advanced investment environment, a strategic location, and world-class infrastructure that Indian companies can benefit from to access the markets of the Gulf and the region.
For his part, His Excellency Sheikh Nawaf Nasser bin Khalid Al Thani, member of the Association’s Board of Directors, confirmed that Qatari-Indian relations are witnessing growing momentum, supported by strong strategic relations and mutual economic and trade interests.
In this regard, he explained that the next stage will provide important opportunities for the private sector in both countries to play a greater role in developing these relations and turning them into long-term investments and projects.
His Excellency said: “Qatar and India share well-established economic relations, but we see that there is greater potential that the private sector in both countries can benefit from. We look forward to moving from traditional trade relations to long-term investment partnerships based on joint projects, transfer of technology and knowledge, and achieving added value for the two economies.”
The meeting also reviewed a group of sectors that could form major axes of future cooperation between Qatari and Indian companies, most notably technology, the digital economy, artificial intelligence, advanced industries, financial services and financial technology, health care and pharmaceutical industries, transportation and logistics services, food security and food industries, renewable energy, infrastructure, tourism and hospitality.
The two sides also discussed opportunities for cooperation in transportation, logistics and supply chains, and to benefit from the strategic location and advanced infrastructure of the State of Qatar and the industrial and commercial capabilities of India, which contributes to enhancing trade movement and linking Gulf markets with Indian and Asian markets.
At the conclusion of the meeting, the Qatari Businessmen Association affirmed its keenness to continue communication with the Indian business community, work to build direct partnerships between companies in the two countries, and benefit from the current momentum in bilateral relations to increase investments and trade and develop joint projects in priority sectors, in a way that serves the common economic interests of the State of Qatar and the Republic of India.