FIEO Applauds Strengthened India-Qatar Partnership, Foresees Trade Growth
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Synopsis
The recent strategic partnership between India and Qatar signals a promising future for trade and investment. With Qatar's commitment to invest $10 billion in India and initiatives to enhance bilateral trade, the economic collaboration is set to benefit both countries significantly.
Key Takeaways
- The strategic partnership between India and Qatar is expanding.
- Qatar has pledged a $10 billion investment in India.
- Integration of UPI in Qatar will facilitate trade.
- Enhanced cooperation will benefit Indian exporters.
- Both nations signed a revised Double Taxation Avoidance Agreement.
New Delhi, Feb 19 (NationPress) The strengthened strategic partnership between India and Qatar lays the groundwork for enhanced economic collaboration, leading to increased trade and investment between the two countries, the Federation of Indian Export Organisations (FIEO) declared on Wednesday.
Pointing out the significant outcomes of the visit, Ashwani Kumar, President of FIEO, stressed that the enhancement of bilateral relations will open up new avenues for Indian exporters and enterprises.
In a notable announcement, Qatar pledged to invest $10 billion in India, while also acknowledging its expanding role as a regional center for goods and services, thanks to its strategic location, top-notch infrastructure, and business-friendly policies.
The results of this high-level visit present a very promising outlook for India’s exporting sector.
“The pledge to double bilateral trade, alongside Qatar’s substantial investment commitment and efforts to enhance trade facilitation, creates a favorable environment for Indian businesses to broaden their presence in Qatar,” Kumar stated.
This ambitious goal to drastically elevate trade volumes signifies a robust and optimistic path for Indian enterprises engaged with Qatar.
The integration of Unified Payments Interface (UPI) in Qatar is also expected to simplify financial transactions, making international trade more streamlined and efficient. Increased collaboration among industry organizations, including the Joint Business Council and Joint Business Forum, will strengthen business-to-business relations and encourage trade.
Both India and Qatar expressed satisfaction with the signing of the revised Double Taxation Avoidance Agreement and the quickening of discussions on the India-Qatar Bilateral Investment Treaty.
FIEO reiterated its commitment to closely collaborate with its members and stakeholders to capitalize on these opportunities and assist in achieving the ambitious trade goals set by both nations.
Kumar also voiced confidence that the bolstered economic partnership between India and Qatar will not only enhance bilateral trade and investment but will also contribute to the sustained growth and prosperity of both countries.
During their extensive discussions, Prime Minister Narendra Modi and the Amir of the State of Qatar, Sheikh Tamim bin Hamad Al-Thani, reaffirmed their dedication to further fortifying bilateral relations through regular and structured cooperation across various domains, including political, trade, investment, security, energy, culture, education, technology, innovation, sustainability, and people-to-people connections.
