From Strategic Partnership To Trade Deal: Key Outcomes Of India-Qatar Meet

Amir of the State of Qatar, Sheikh Tamim bin Hamad Al-Thani on Tuesday successfully concluded his high-level state visit to India on the invitation of Prime Minister Narendra Modi. On his second visit to India, the Qatar Amir was accompanied by a high-level delegation comprising Ministers, officials and business leaders. 

Prime Minister Narendra Modi held bilateral talks with the Qatar Amir at Hyderabad House on Tuesday and the two countries agreed on several deals. "Both leaders expressed the desire for further expanding and deepening the multifaceted relationship between both countries. In this context, they expressed happiness on the signing of the ‘Agreement on the Establishment of Bilateral Strategic Partnership’ between the two sides," said the Ministry of External Affairs of India.

Here are some key deals/agreements made between the two nations:

Strategic Partnership Agreement

1. Elevation of India-Qatar bilateral relationship to Strategic Partnership

Bilateral Mechanisms

2. Two Joint Ministerial Commissions at the level of Foreign Ministers and Ministers of Commerce and Industry

Trade and Investment

3. Qatar side is exploring opportunities to increase investments in India in infrastructure, technology, manufacturing, food security, logistics, hospitality, and areas of mutual interest. In this regard, Qatar committed to invest USD 10 billion in India.

4. Decision of Qatar Investment Authority (QIA) to open an office in India.

5. Both sides set the target to double bilateral trade by 2030.

6. Both sides agreed to explore an India-Qatar Free Trade Agreement

7. Operationalization of India's UPI at Qatar National Bank (QNB) Point of Sales in Qatar.

8. Expansion of Qatar National Bank presence in India by setting up an office in the GIFT City.

Energy partnership

9. Deepening India-Qatar energy partnership, including through trade and mutual investments.

Others

10. Extension of Indian e-Visa facility for Qatari nationals.

11. India and Qatar agreed to celebrate Year of Culture, Friendship and Sports in near future.

List of Agreements/MoUs

12. Agreement on Establishment of Bilateral Strategic Partnership.

13. Revised Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income.

14. MoU on Financial and Economic Cooperation between Ministry of Finance, Government of India and Ministry of Finance, Government of the State of Qatar.

15. MoU for Cooperation in the field of Youth and Sports between the Ministry of Youth Affairs and Sports, Government of India and the Ministry of Sports & Youth, Government of the State of Qatar.

16. MoU for Cooperation in the field of Documents and Archives between National Archives of India, Government of India and National Archives of Qatar, Government of the State of Qatar.

17. MoU for Cooperation between Invest India and Invest Qatar.

18. MoU between Confederation of Indian Industry and Qatari Businessmen Association.