India–Qatar Economic Ties Strengthened by Piyush Goyal Visit

RR Team

2 months ago

India–Qatar Economic Partnership Strengthened by Piyush Goyal Visit

Union Minister Piyush Goyal co-chairs India–Qatar Joint Commission and launches UPI to boost trade and digital connectivity

Union Minister of Commerce and Industry Shri Piyush Goyal visited Doha, Qatar, to co-chair the India–Qatar Joint Commission on Economic and Commercial Cooperation alongside H.E. Sheikh Faisal bin Thani bin Faisal Al Thani. The upgraded Commission meeting marked the first after elevating the previous Joint Working Group, following the Amir of Qatar’s visit to India in February 2025.

During the meeting, both sides reviewed bilateral trade, valued at over USD 14 billion in 2024–25, and set a goal to double trade by 2030. Discussions focused on enhancing trade in goods and services, with opportunities across energy, infrastructure, manufacturing, finance, technology, and green growth sectors.

The Ministers agreed to expedite the finalization of the Terms of Reference (ToR) for formal negotiations on the India–Qatar Comprehensive Economic Partnership Agreement (CEPA). They also reaffirmed the commitment to unlock new investment avenues, acknowledging Qatar’s USD 10 billion investment pledge announced during the Amir’s State Visit to India.

Priority sectors highlighted included digital economy, healthcare, agriculture, tourism, culture, and environment. On the sidelines, Shri Goyal held high-level bilateral meetings with senior Qatari officials and business leaders to explore collaboration in food security, trade finance, project partnerships, and investment opportunities for Qatari entities in India.

Shri Goyal addressed the India–Qatar Joint Business Council (JBC), attended by representatives from FICCI, CII, ASSOCHAM, and Qatar Chamber. He highlighted India’s growth trajectory, innovation, manufacturing, and technology leadership under the vision of Viksit Bharat@2047. He also interacted with the Qatari Businessmen Association (QBA) to strengthen trade and investment ties.

A significant milestone in digital cooperation was achieved with the launch of Unified Payments Interface (UPI) services in Qatar, enabling seamless digital transactions for the Indian diaspora and local consumers. The Minister further engaged with the Indian Business and Professionals Council (IBPC), the Doha chapter of ICAI, and the local Indian community, recognizing their role in promoting bilateral economic ties.

The visit concluded with a shared vision for a diversified, resilient, and forward-looking economic partnership between India and Qatar, focusing on mutual trust, energy collaboration, technological partnerships, and strong people-to-people connections.