India-Qatar Strategic Partnership and Agreements
India and Qatar have elevated their bilateral relations to a strategic partnership, aiming to double their current trade of $14 billion over the next five years.
Agreements and Memorandums of Understanding (MOUs)
- The establishment of a bilateral strategic partnership agreement.
- A revised double taxation avoidance agreement.
- MOUs covering:
- Economic partnership
- Cooperation in archives and documentation
- Youth affairs and sports
Key Discussion Topics
- Trade, investment, and energy were central to discussions.
- Both sides discussed the Middle East situation, including mutual positions on the Israel-Hamas issue.
- Qatar's Sovereign Wealth Fund, the Qatar Investment Authority (QIA), holds about $1.5 billion in FDI in India.
- Potential QIA investment areas:
- Infrastructure
- Shipbuilding
- Renewable energy
- Smart cities
- Emerging technologies like AI and robotics
Trade Relations and Forums
- A Joint Business Forum was conducted by commerce ministers from both nations, involving discussions with industrialists and institutions.
- The exploration of a Free Trade Agreement (FTA) and the elevation of the Joint Working Group on Trade and Commerce to a Joint Commission.
- MOUs signed on the sidelines included:
- Invest India and Invest Qatar to boost mutual investments
- CII and the Qatar Businessmen Association to enhance business networks
Energy Partnership
Qatar is a major LNG supplier to India, with a significant deal signed in February 2024 for the supply of 7.5 million metric tonnes of LNG annually starting in 2028.
Leaders discussed expanding energy ties, including potential mutual investments.
Counterterrorism and Cooperation
Both nations condemned terrorism in all forms and committed to enhancing cooperation in intelligence sharing and counterterrorism efforts through bilateral and multilateral mechanisms.